McKesson Corporation is an American publicly traded company that distributes pharmaceuticals and provides health information technology, medical supplies, and health management tools. The company delivers a third of all pharmaceutical products used or consumed in North America and employs over 80,000 employees.[2][3] With $308.9 billion in 2024 revenue, it is the ninth-largest company by revenue in the United States and the nation's largest health care company. The company is headquartered in Irving, Texas. It is a component of the S&P 500 and is listed on the New York Stock Exchange, where it is traded under the ticker symbol "MCK".
McKesson provides extensive network of infrastructure for the healthcare industry and was an early adopter of technologies, including barcode scanning for distribution, pharmacy robotics, and RFID tags.[4] The company has been named in a federal lawsuit for profiting from the opioid epidemic in the United States.[5]
Throughout the COVID-19 pandemic, McKesson was a key vaccine distributor, serving as the US government's centralized distributor for hundreds of millions of COVID-19 vaccine doses and ancillary supply kits for over a billion doses.[6][7]
History
19th century
McKesson was founded in 1828 in New York City as Charles M. Olcott by Charles M. Olcott.[8] It was later renamed Olcott, McKesson & Co. and John McKesson in 1833,[9] the business began as an importer and wholesaler of botanical drugs.[8] A third partner, Daniel Robbins, who joined the enterprise as it grew, and who previously "was an assistant to the original partners",[10] was the "Robbins" when the company was renamed McKesson & Robbins following Olcott's death in 1853.
20th century
Finances
For the fiscal year 2023, McKesson reported earnings of US$3.56 billion on revenue of US$276.711 billion.[46] As of 2023, McKesson was the nation's largest health care company and the ninth-largest company by total revenue on the Fortune 500.[47]
Divisions
McKesson Provider Technologies
McKesson Provider Technologies is the retail name for McKesson Technology Solutions; the software development division of McKesson. Their customer base in the United States includes 50% of all health systems, 20% of all physician practices, 25% of home care agencies, and 77% of health systems with more than 200 beds.
On June 20, 2005, McKesson Provider Technologies acquired Medcon, Ltd., an Israeli company which provides web-based cardiac image and information management solutions for heart centers, that includes: diagnostic digital image management, archiving, procedure reporting, and workflow management.[48]
In October 2013, McKesson agreed to buy a 50% stake in Germany-based Celesio for $8.3 billion.[49]
McKesson Medical Supplies and Equipment
McKesson Medical-Surgical (MMS) offers a large selection of national healthcare brands, along with McKesson's exclusive brand of medical products.
International
McKesson Canada
In 1991, McKesson Corporation acquired a 100 percent interest in Medis Health and Pharmaceutical Services from Provigo. In 2002, the McKesson Canada name was adopted. McKesson Canada is a wholly owned subsidiary of McKesson Corporation. It includes various business units: McKesson Pharmaceutical, McKesson Automation, McKesson Specialty, McKesson Health Solutions, and McKesson Information Solutions.
In 2012, McKesson agreed to purchase Canadian pharmacy chains IDA, Guardian Pharmacy, and The Medicine Shoppe from the Katz Group of Companies for $920 million.[57]
In March 2016, McKesson agreed to purchase Canadian pharmacy chain Rexall from the Katz Group of Companies for $3 billion.[58] The deal was finalized in December 2016 following approval received under the Investment Canada Act.[59]
See also
- Fortune 500
- Top 100 Contractors of the US federal government
External links
References
- FY 2025 Annual Report (Form 10-K) U.S. Securities and Exchange Commission, May 9, 2025^
- McKesson Forbes, retrieved January 15, 2025^
- Key Facts About McKesson www.mckesson.com, retrieved January 15, 2025^