McKesson to separate Medical-Surgical Solutions segment as independent company

McKesson (MCK) is announcing its intention to separate its Medical-Surgical Solutions segment into an independent company, “NewCo.” The company stated: “Disciplined portfolio management is a hallmark of our enterprise strategy. McKesson believes a separation will further enhance the strategic opportunity and operational focus of both companies and unlock value for McKesson shareholders. The separation would advance McKesson and NewCo’s ability to create value for customers, partners, patients, and shareholders. With a separation of Medical-Surgical Solutions, McKesson will focus the Company and its capital deployment priorities on opportunities that best align with its long-term enterprise strategies, advancing McKesson’s portfolio to focus investment on higher growth, higher margin opportunities in Oncology and Biopharma Solutions, unlocking substantial value for stakeholders. The company added: “Disciplined capital deployment and portfolio management are hallmarks of our strategy. In alignment with our strategy, we are announcing our intent to separate the Medical-Surgical Solutions segment into an independent company. This action is designed to unlock significant value for both McKesson and Medical-Surgical Solutions, as each focuses on maximizing growth and delivering operational excellence in their respective markets as world-class healthcare services and solutions leaders. We believe that the separation will deliver sustainable long-term growth for both companies.”