Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



McKesson to Buy PSS World Medical

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Major health-care services and technology company McKesson (NYSE: MCK  ) announced on Thursday that it plans to acquire PSS World Medical (Nasdaq: PSSI  ) for $2.1 billion. PSS World Medical supplies medical products to front-line caregivers in the U.S.

Both company's boards of directors approved the buyout. However, regulatory clearance, and approval by PSS World Medical's shareholders, is still pending. Assuming these approvals go as planned, PSS World Medical will combine with McKesson's Medical Surgical unit. The combined company will roll up to McKesson's Distribution Solutions segment.

McKesson expects to achieve over $100 billion in annual pre-tax synergies by the fourth year following the transaction close. The company plans to retain both organizations' customer service and sales staff, distribution infrastructure, and private label offerings.

Stanton McComb will be president of the new organization. McComb currently serves as president of McKesson's Medical Surgical unit. Gary Corless, currently PSS World Medical's president and CEO, will become chief operating officer of the newly formed organization.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2078115, ~/Articles/ArticleHandler.aspx, 10/28/2016 6:58:11 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,169.68 -29.65 -0.16%
S&P 500 2,133.04 -6.39 -0.30%
NASD 5,215.97 -34.29 -0.65%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/27/2016 4:00 PM
MCK $160.50 Up +1.93 +1.22%
McKesson CAPS Rating: *****
PSSI.DL $0.00 Down +0.00 +0.00%
PSS World Medical,… CAPS Rating: No stars