McKesson Completes Apollo Investment in MMS
McKesson (MCK) announced the successful completion of the previously announced minority ownership interest investment from funds managed by affiliates of Apollo (APO) in McKesson's Medical-Surgical Solutions, MMS, business on June 1, 2026. This transaction represents a key milestone in McKesson's intention to separate MMS into an independent, publicly traded company, and positions the business for long-term growth. Apollo Funds invested $1.25B in convertible preferred equity of MMS to acquire an approximately 13% interest in MMS. The transaction values MMS at approximately $13B total enterprise valuation. McKesson retains operating control and majority ownership of MMS and will consolidate the results for financial reporting.
