M&A Deal Summary

McKesson Acquires Rx Savings Solutions

On September 19, 2022, McKesson acquired software company Rx Savings Solutions from McCarthy Partners Management and Cobalt Ventures for 875M USD

Acquisition Highlights
  • This is McKesson’s 10th transaction in the Software sector.
  • This is McKesson’s 8th largest (disclosed) transaction.
  • This is McKesson’s 36th transaction in the United States.
  • This is McKesson’s 1st transaction in Kansas.

M&A Deal Summary
Date 2022-09-19
Target Rx Savings Solutions
Sector Software
Buyer(s) McKesson
Sellers(s) McCarthy Partners Management
Cobalt Ventures
Deal Type Add-on Acquisition
Deal Value 875M USD

Target

Rx Savings Solutions

Overland Park, Kansas, United States
website
Rx Savings Solutions (RxSS) is an innovative software company focused on pharmaceutical drug cost containment for employers, employees, and payers. Rx Savings Solutions was founded in 2012 and is based in Overland Park, Kansas.

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Buyer(S) 1

Buyer

McKesson

Irving, Texas, United States

website

Category Company
Founded 1833
Sector Information Technology
Employees58,000
Revenue 264.0B USD (2022)
DESCRIPTION
McKesson office in The Woodlands, Texas.
McKesson office in The Woodlands, Texas.

McKesson is a health care services and information technology company. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, health care information technology, and business and clinical services. McKesson was founded in 1833 and is based in Irving, Texas.

DEAL STATS #
Overall 51 of 51
Sector (Software) 10 of 10
Type (Add-on Acquisition) 41 of 41
State (Kansas) 1 of 1
Country (United States) 36 of 36
Year (2022) 1 of 1
Size (of disclosed) 8 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 McKesson - Austrian Businesses

Austria

McKesson - Austrian Businesses is a provider of IT services based in Austria.

Sell -

Seller(S) 2

SELLER

McCarthy Partners Management

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1986
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

McCarthy Capital is a private equity firm that seeks to invest in mid-to-late-stage companies. The firm looks for companies with revenue of at least $15 million and $3 million in operating profits. McCarthy will consider companies across a broad range of industries possessing significant growth opportunities through participation in growing markets, market share expansion, industry consolidation or innovative business strategies. McCarthy prefers to invest in the range of $5 and $125 million, and will take a minority or majority ownership stake in companies where management has material capital at risk. McCarthy Capital was founded in 1986 and is based in Omaha, Nebraska.

DEAL STATS #
Overall 24 of 24
Sector (Software) 5 of 5
Type (Add-on Acquisition) 12 of 12
State (Kansas) 3 of 3
Country (United States) 24 of 24
Year (2022) 3 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 WellnessLiving Systems

Thornhill, Ontario, Canada

WellnessLiving Systems develops multi-tenant business management software to allow business owners to schedule classes, appointments and events, manage staff, process payments and increase member engagement. WellnessLiving Systems was founded in 2013 and is based in Thornhill, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 Omaha Steaks

Omaha, Nebraska, United States

Omaha Steaks is a food retailer and manufactures, markets, and distributes steaks, meat, seafood, and some prepared foods. Omaha Steaks was founded in 1917 and is based in Omaha, Nebraska.

Buy -
SELLER

Cobalt Ventures

Investor Investor

website

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Cobalt Ventures is the private equity investment arm of Blue Cross and Blue Shield of Kansas City. The Firm looks to invest $10 to $75 million (majority or minority positions) to support scalable, high-growth healthcare companies that are seeking to increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members. Specific areas of interest include home healthcare/hospice, outpatient services, telehealth, pharmaceutical distribution, and tech-enabled healthcare services. Cobalt Ventures is based in Kansas City, Missouri.

DEAL STATS #
Overall 2 of 2
Sector (Software) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Kansas) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 RecoveryOne

Walnut Creek, California, United States

RecoveryOne partners with health plans and self-insured employers to provide a digital physical therapy platform to their members. RecoveryOne was founded in 2014 and is based in Walnut Creek, California.

Buy -
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