Overview
- Cencora signed a definitive agreement to acquire TPG’s equity interest in OneOncology, consolidating control of the physician-led platform.
- The consideration totals about $5.0 billion, comprising roughly $3.6 billion in cash and retirement of $1.3 billion of corporate debt, implying a $7.4 billion enterprise value.
- OneOncology’s affiliated practices and management will retain a minority stake to preserve physician leadership and community-based independence.
- Closing is targeted by the end of Cencora’s fiscal second quarter of 2026, with financing through new debt and expected neutral impact to adjusted diluted EPS in the first year after closing.
- Cencora paused share repurchases ahead of closing and highlighted strategic benefits that build on its RCA acquisition, including expanded clinical trial and technology capabilities across OneOncology’s national network.