UNITED STATES OF AMERICA —Private equity firm Clayton, Dubilier & Rice alongside pharmaceutical distributor McKesson Corporation have entered into a definitive transaction to acquire Option Care Health in an all-cash deal valued at approximately $5.8 billion in total enterprise value. Under the terms of the agreement, shareholders of Option Care Health will receive $32.05 per share, representing a 37% premium over the company's prior closing price. Upon closing, Clayton, Dubilier & Rice will secure a 51% controlling interest, while McKesson will invest approximately $1.4 billion to hold a 49% minority stake with a strategic framework for a potential future full acquisition.
This buyout shifts one of the largest independent home and alternate-site infusion therapy providers in the United States into private ownership. Option Care Health operates a nationwide footprint comprising over 8,000 employees and more than 5,000 clinicians, specializing in complex clinical administration of acute and specialty biopharmaceuticals outside traditional hospital environments. McKesson Corporation is a global healthcare services leader focused on pharmaceutical distribution and specialty healthcare solutions, whereas Clayton, Dubilier & Rice is a private investment firm with extensive holdings in healthcare services.
The acquisition reflects an accelerating structural shift within the healthcare sector toward decentralized, lower-cost care delivery models. Shifted patient preferences and reimbursement incentives from payers are driving treatment away from high-cost inpatient facilities toward home-based and ambulatory care settings. Integrating specialized infusion capabilities with deep pharmaceutical supply chain infrastructure enables stakeholders to capture growing market demand for specialty, orphan, and rare disease therapies that require complex clinical oversight.
For institutional investors and healthcare operators, the deal underscores strong private equity and corporate interest in scaling alternate-site care networks. The transaction establishes a structured pathway for McKesson to eventually acquire complete ownership, highlighting strategic convergence between drug distribution giants and specialized clinical service providers. Subject to shareholder approval and regulatory clearances, the deal is expected to close in the first half of 2027, whereupon Option Care Health will be delisted from the Nasdaq Stock Exchange.
