Who Owns McKesson Provider Technologies?
McKesson Provider Technologies is owned by McKesson Corporation, a publicly traded American healthcare company headquartered in Irving, Texas. McKesson Provider Technologies operates as the technology solutions division of McKesson, providing healthcare IT software and services to health systems, physician practices, and healthcare providers across North America.
Parent Company
McKesson Corporation
Founded
2001
Status
Publicly Traded
Headquarters
Irving, Texas, USA
Who Owns McKesson Provider Technologies?
- Parent Company: McKesson Corporation
- Ownership Type: Wholly owned
- Company Type: Publicly Traded
- Stock Ticker: NYSE: MCK
| Brand | Parent Company | Ownership Type |
|---|---|---|
| McKesson Provider Technologies | McKesson Corporation | Wholly owned |
History of McKesson Provider Technologies
- Founded: 2001
- Founders: McKesson Corporation (internal development)
McKesson Provider Technologies was established in 2001 as McKesson's dedicated healthcare IT and software solutions division. The division was created to serve the growing demand for electronic health records, pharmacy management systems, and clinical decision support tools from healthcare providers.
The division's foundation was strengthened through strategic acquisitions and partnerships. In 2005, McKesson Provider Technologies acquired Medcon, Ltd., an Israeli company providing web-based cardiac image and information management solutions. This acquisition expanded the division's capabilities in diagnostic imaging and workflow management.
Throughout the 2000s and 2010s, McKesson Provider Technologies expanded its software portfolio and customer base, becoming one of the largest healthcare IT providers in North America. The division developed specialized expertise in serving different healthcare provider types including large health systems, independent physician practices, and home care agencies.
In 2013, McKesson acquired a 50% stake in Germany-based Celesio for $8.3 billion, further expanding its international healthcare IT and distribution capabilities. This strategic investment strengthened McKesson's position in European healthcare markets.
In recent years, McKesson Provider Technologies has focused on cloud-based solutions, interoperability, and advanced analytics. The division has invested in artificial intelligence and machine learning capabilities to enhance clinical decision support and operational efficiency for healthcare providers.
About McKesson Corporation
What does McKesson do?
McKesson distributes pharmaceutical products, including brand-name drugs, generic drugs, and specialty medications, to pharmacies, hospitals, physician offices, and other healthcare providers across the United States and Canada. The company also operates the US Oncology Network, distributes medical-surgical supplies, and provides technology solutions to biopharma manufacturers through its Prescription Technology Solutions segment.
Is McKesson publicly traded?
Yes, McKesson Corporation trades on the New York Stock Exchange under ticker symbol MCK. The company has no controlling shareholder, with ownership distributed among institutional investors including Vanguard Group and BlackRock.
What is McKesson's annual revenue?
In fiscal year 2024 (ended March 31, 2024), McKesson reported revenue of approximately $308.9 billion, a 10% increase from the prior fiscal year. The U.S. Pharmaceutical segment accounted for approximately $275 billion of total revenue.
Who is McKesson's CEO?
Brian Tyler has served as Chief Executive Officer of McKesson since April 2019, succeeding John Hammergren. Tyler has led the company's strategic focus on oncology and biopharma services as higher-growth businesses within the healthcare distribution ecosystem.
When was McKesson founded?
McKesson was founded in 1833 by John McKesson and Charles Olcott in New York City as Olcott & McKesson, making it one of the oldest continuously operating companies in the United States.
What is McKesson's role in the opioid settlement?
McKesson, along with Cencora and Cardinal Health, reached a $21 billion settlement with U.S. states and local governments in 2022 to resolve claims that the three distributors failed to adequately monitor suspicious opioid orders. McKesson's share of the settlement is approximately $7.9 billion, to be paid over 18 years.
- Founded: 1833
- Headquarters: Irving, Texas, USA
- Company Type: Publicly Traded
- Stock: NYSE: MCK
Where Is McKesson Provider Technologies Made / Based?
- Headquarters: Irving, Texas, USA
- Manufacturing / Operations: United States
Brands Owned by McKesson Corporation
- Biologics by McKesson - Independent specialty pharmacy providing personalized patient care for oncology ...
- Health Mart - Independent pharmacy franchise network with over 4,500 member pharmacies across ...
- McKesson Medical-Surgical - Medical supplies and equipment distribution brand providing healthcare products ...
McKesson Provider Technologies Ownership: Pros & Cons
Advantages
- +Comprehensive healthcare IT platform integrating pharmacy, clinical, and administrative functions
- +Extensive customer base providing stability and network effects
- +Significant investment in research and development for healthcare technology
- +Integration with McKesson's pharmaceutical distribution and supply chain services
- +Advanced security and compliance infrastructure for healthcare data
- +Scalable solutions serving organizations from small practices to large health systems
Considerations
- -Dependency on McKesson's corporate policies and strategic direction
- -Competition from other healthcare IT vendors and cloud-based solutions
- -Complex healthcare IT regulatory environment and compliance requirements
- -Pressure on healthcare IT margins from consolidation and pricing pressures
- -Ongoing investment required for system upgrades and interoperability
- -Limited flexibility in certain product decisions due to corporate structure
Frequently Asked Questions About McKesson Provider Technologies
Where to Buy
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McKesson Provider Technologies on AmazonCompetitors to McKesson Provider Technologies
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Takeda | Japan | 2011 | Mass Market | Asia Pacific | All Genders | |
| Novartis | Switzerland | 2009 | Mass Market | Global | All Genders | |
| Cardinal Health | USA | 2014 | Mass Market | North America | Male | |
| Cardinal Health | USA | 2010 | Mass Market | North America | All Genders | |
| Cvs Health | USA | 1982 | Mass Market | North America | All Genders | |
| Sanofi | France | 2002 | Mass Market | Europe | All Genders |
Learn More About Competitors
Adcetris
Owned by Takeda Pharmaceutical Company
Prescription antibody-drug conjugate for treating Hodgkin lymphoma and other CD30-positive lymphomas, manufactured and marketed by Takeda Pharmaceutical Company.
Afinitor
Owned by Novartis
Prescription oncology medication for treating various cancers including renal cell carcinoma and breast cancer, manufactured and marketed by Novartis.
Cardinal Health At-Home
Owned by Cardinal Health
At-home healthcare solutions provider delivering medical supplies, equipment, and pharmacy services directly to patients' homes owned by Cardinal Health.
Cardinal Health Specialty Pharmacy
Owned by Cardinal Health
Specialty pharmaceutical distribution and services provider serving specialty pharmacies, hospitals, and healthcare providers with complex medications owned by Cardinal Health.
Coram
Owned by CVS Health
American specialty pharmacy and infusion services provider offering home and alternate site care, owned by CVS Health.
Eloxatin
Owned by Sanofi
Prescription chemotherapy medication for treating colorectal cancer, manufactured and marketed by Sanofi.
Competitive Analysis
Market Positioning: McKesson Provider Technologies competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
McKesson Corporation Stock Information
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