McKesson Signs Agreement to Acquire Controlling Interest in Florida Cancer Specialists & Research Institute’s Core Ventures

Paul, Weiss is advising leading physician-owned community oncology practice Florida Cancer Specialists & Research Institute, LLC (FCS) in the approximately $2.49 billion all-cash sale of a majority stake in its internal business and administrative services arm, Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures), to McKesson Corporation.

Under the terms of the deal, announced on August 26, FCS physicians will retain a minority interest in Core Ventures, while McKesson will hold approximately 70% of the organization. Core Ventures will join McKesson's The US Oncology Network (The Network), a leading oncology organization, to provide enhanced practice management services available through The Network. The completion of the transaction is pending customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Krishna Veeraraghavan and Cullen Sinclair, and includes partner Thomas de la Bastide and counsel Mary-Ann Awada; tax partner Lindsay Parks; antitrust partners Scott Sher and Christopher Wilson, and counsel John Magruder; executive compensation partners Jarrett Hoffman and Reuven Falik and counsel Meghan Fox; litigation counsel Audrey Paquet; intellectual property partner Charles Googe; real estate partner Peter Fisch; and environmental counsel William O'Brien.