
OneOncology is owned by Cencora Inc. (NYSE: COR), a publicly traded American pharmaceutical distribution and healthcare services company headquartered in Conshohocken, Pennsylvania. Cencora acquired a majority stake in OneOncology in June 2023 through a partnership with TPG for $2.1 billion and announced plans to acquire the remaining equity in December 2025. OneOncology is the nation's largest independent community oncology platform, headquartered in Nashville, Tennessee.
Parent Company
Acquired
2023
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| OneOncology | Cencora Inc. | Wholly owned |
OneOncology was founded in 2018 as a physician-led national platform dedicated to supporting independent community oncology practices. The company was created to help independent oncologists compete with larger healthcare systems while maintaining clinical autonomy and practice independence. The founding thesis was that community oncology practices faced increasing pressure from hospital systems, payer consolidation, and regulatory complexity, and that a centralized platform could provide the infrastructure and support needed to keep these practices independent.
From 2018 through 2022, OneOncology grew rapidly by partnering with independent oncology practices across the United States. The company provided practice management services, clinical support, operational expertise, and technology solutions. During this period, OneOncology developed specialized capabilities in oncology practice management, clinical protocols, and patient support services. The platform expanded its network to over 100 practices across 30 states.
In June 2023, Cencora, then operating under the name AmerisourceBergen, partnered with TPG to acquire a majority stake in OneOncology for $2.1 billion. The acquisition was part of Cencora's broader strategy to expand its presence in specialty pharmaceuticals and oncology services. At the time of the acquisition, OneOncology had approximately 220 providers. The partnership positioned OneOncology to accelerate growth by leveraging Cencora's pharmaceutical distribution network, specialty pharmacy capabilities, and financial resources.
Following the acquisition, OneOncology continued to expand its network of affiliated practices. The company enhanced its service offerings to include comprehensive practice management, clinical support, technology solutions, and pharmaceutical access. OneOncology also acquired Navigating Care, a patient navigation platform, to strengthen its care coordination capabilities.
By 2024, OneOncology had grown to over 1,000 providers across its network. The platform's partner practices achieved an average MIPS (Merit-based Incentive Payment System) score of 96 for the 2023 reporting period, a 13 percent improvement year over year. OneOncology's Oncology Quality Hub received approval from the Centers for Medicare and Medicaid Services (CMS) as both a Qualified Clinical Data Registry (QCDR) and a Qualified Registry (QR) in 2024.
In 2024, OneOncology highlighted research contributions from investigators at partner practices through 13 oral and poster presentations at the ASCO (American Society of Clinical Oncology) Annual Meeting. The platform also transformed its research network into a full-service site management organization, allowing practices to concentrate on clinical aspects while administrative burdens were managed centrally.
In December 2025, Cencora announced its intention to acquire the remaining outstanding equity interests in OneOncology. This full acquisition is expected to close in 2026, subject to regulatory approval. Cencora has raised its long-term guidance expectations to reflect OneOncology's expected contribution to enterprise growth, demonstrating the company's commitment to the oncology market.
By 2026, OneOncology had established itself as the nation's largest independent community oncology platform. The company continues to focus on expanding its network, enhancing its technology platform, and supporting independent oncologists in delivering high-quality cancer care in community settings.
What does Cencora do?
Cencora distributes pharmaceutical products, including brand name drugs, generic drugs, specialty medications, and over the counter healthcare products, to pharmacies, hospitals, physician offices, and other healthcare providers across the United States and internationally. The company also provides manufacturer services, patient support programs, specialty logistics, veterinary pharmaceutical distribution, and physician practice management through its subsidiaries. In fiscal 2025, the company generated $321.3 billion in revenue.
Is Cencora publicly traded?
Yes, Cencora, Inc. trades on the New York Stock Exchange under ticker symbol COR. The company was previously listed under the ticker ABC as AmerisourceBergen and changed to COR on August 30, 2023, when the rebranding to Cencora was completed. The company has no controlling shareholder, though Walgreens Boots Alliance holds a significant stake as the largest single investor.
What is Cencora's annual revenue?
In fiscal year 2025 (ended September 30, 2025), Cencora reported revenue of $321.3 billion, a 9.3% increase from $294.0 billion in fiscal 2024. The company is one of the largest companies in the United States by revenue, consistently ranking in the top 20 of the Fortune 500. Adjusted diluted EPS was $16.00, up 16.3% from $13.76 in the prior year.
Why did AmerisourceBergen change its name to Cencora?
AmerisourceBergen changed its name to Cencora on August 30, 2023, to reflect its evolution from a primarily domestic pharmaceutical distributor into a global healthcare solutions organization. The rebranding followed the 2021 acquisition of Alliance Healthcare from Walgreens Boots Alliance for approximately $6.5 billion, which significantly expanded the company's international operations. The new name was selected from hundreds of possibilities and was inspired by the company's team members and customers around the world. The ticker symbol changed from ABC to COR on the same date.
Who is Cencora's CEO?
Robert P. Mauch became President and CEO of Cencora on October 1, 2024, succeeding Steven H. Collis, who had served as CEO since 2011. Collis transitioned to the role of Executive Chairman. Mauch previously served as Chief Operating Officer of the company.
What is Cencora's role in the opioid settlement?
Cencora (then AmerisourceBergen), along with McKesson and Cardinal Health, reached a $21 billion settlement with U.S. states and local governments in February 2022 to resolve claims that the three distributors failed to adequately monitor suspicious opioid orders. Cencora's share of the settlement is approximately $6.1 billion, representing its 31% portion, to be paid over 18 years. A minimum of 85% of the settlement payments must be used for addiction treatment and prevention services. The distributors did not admit liability or wrongdoing. A separate settlement with Johnson & Johnson brought the total to approximately $26 billion.
What is the RCA acquisition?
In January 2025, Cencora completed the acquisition of Retina Consultants of America (RCA), a leading management services organization of retina specialists, from Webster Equity Partners. Cencora acquired approximately 85% interest in RCA for a cash outlay of $4.4 billion, with RCA physicians and management retaining a 15% minority interest. The acquisition added nearly 300 retina specialists to Cencora's portfolio and expanded its physician management services capabilities within the U.S. Healthcare Solutions segment.
OneOncology operates within Cencora's corporate responsibility framework. As a healthcare services company, OneOncology's sustainability and ethics considerations center on patient care quality, data privacy, healthcare equity, and responsible business operations.
OneOncology's technology platforms enable paperless operations, reducing the environmental impact of traditional healthcare documentation. The Oncology Quality Hub facilitates electronic data collection and reporting, eliminating paper waste across partner practices. The platform's telehealth and care coordination capabilities also reduce patient travel requirements for specialized oncology care.
OneOncology maintains strict data privacy and security protocols for patient health information. The platform complies with HIPAA regulations and leverages Cencora's security infrastructure. The ethical use of patient data for quality improvement and research is an ongoing consideration in the platform's operations.
OneOncology supports community oncology care by making specialized cancer treatment more accessible in local communities. The platform enables independent oncology practices to compete with larger hospital systems, bringing quality cancer care to communities that might otherwise lose local oncology services. This includes underserved and rural areas where hospital-based oncology centers may not be accessible.
OneOncology is not certified as a B Corporation. The brand has not published independent carbon neutrality commitments or specific environmental certifications. Sustainability efforts are limited to operational efficiency initiatives and integration with Cencora's broader corporate responsibility programs.
OneOncology's Oncology Quality Hub received approval from the Centers for Medicare and Medicaid Services (CMS) as both a Qualified Clinical Data Registry (QCDR) and a Qualified Registry (QR) in 2024. This approval demonstrates OneOncology's ability to meet rigorous federal standards for collecting and submitting clinical data as part of CMS's Quality Payment Program.
OneOncology partner practices achieved an average MIPS score of 96 for the 2023 reporting period, a 13 percent improvement year over year. This performance reflects the platform's effectiveness in helping practices optimize quality metrics and achieve strong results in CMS quality payment programs.
In 2024, OneOncology highlighted research contributions from investigators at partner practices through 13 oral and poster presentations at the ASCO Annual Meeting. This level of research output from a community oncology platform demonstrates the platform's commitment to advancing oncology research in community practice settings.
OneOncology has been recognized by healthcare industry analysts as the fastest growing platform for independent oncology practices. The platform's rapid expansion from 220 providers at the time of Cencora's acquisition in 2023 to over 1,000 providers by 2024 has been noted in healthcare industry coverage.
OneOncology has not been subject to major product safety recalls or regulatory enforcement actions. The platform maintains a relatively clean public record. However, the company faces ongoing challenges typical of a rapidly growing healthcare services organization in a complex regulatory environment.
OneOncology operates in a highly regulated healthcare environment. The platform must maintain compliance with pharmacy regulations, healthcare compliance requirements, and evolving industry standards across multiple jurisdictions. The complexity of healthcare regulation creates ongoing compliance risk, particularly as the platform expands into new states and practice settings.
Following Cencora's majority stake acquisition in 2023 and the announced full acquisition in December 2025, OneOncology faces integration challenges. Combining OneOncology's physician-led culture with Cencora's corporate structure requires careful management to maintain the clinical autonomy and practice independence that are central to OneOncology's value proposition.
The healthcare industry is experiencing significant consolidation, and OneOncology's growth through practice acquisition and partnership creates potential conflicts of interest. Some healthcare advocates have raised concerns about the consolidation of independent practices under corporate ownership, even when the stated goal is to preserve independence.
OneOncology handles sensitive patient health data and must maintain strict compliance with HIPAA and other data protection regulations. As the platform grows and integrates with Cencora's broader data infrastructure, the risk surface for data privacy and security expands. The company must continuously invest in data security to protect patient information.
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| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Cencora | USA | 2020 | Premium | United states | All Genders |
Market Positioning: OneOncology competes with 1 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.
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