MCKESSON: Buys Columbia’s Pharmacy Management Unit
San Francisco-based McKesson Corp. yesterday announced that it is buying Columbia/HCA Healthcare Corp.'s pharmacy management firm for $35.5 million. Minnesota-based MedManagement LLC services more than 100 sites of care in 35 states and had revenues of $81 million for the 12-month period ending June 30 (McKesson release, 8/11). The Wall Street Journal notes that drug wholesale giant McKesson already has a five-year, $5 billion supply deal with Columbia. According to a McKesson spokesperson, "MedManagement's contracts at ... 'a small number' of Columbia hospitals will continue," and McKesson wants "to expand MedManagement's presence at other Columbia and non-Columbia hospitals" (8/12).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.