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6.McKesson Corporation

McKesson Corporation

Mck logo 2color.jpg

Formerly
Olcott & McKesson
(1833–1853)
McKesson & Robbins (1853–1999)
McKessonHBOC
(1999–2001)
Type
Public
Industry
Healthcare
Founded
New York City, United States
1833; 185 years ago
Founder
John McKesson
Charles Olcott
Headquarters
San Francisco, California, U.S.
Key people
John Hammergren
(Chairman and CEO)
Products
Pharmaceuticals
Medical technology
Health care services
Revenue
US$198.533 billion(2017)
Operating income
US$7.109 billion (2017)
Net income
US$5.153 billion (2017)
Total assets
US$60.969 billion (2017)
Total equity
US$11.095 billion (2017)
Number of employees
~78,000 (2017)
Subsidiaries
Rexall Pharmacy Group
Health Mart





McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company had revenues of $198.5 billion in 2017.
McKesson is based in the United States and distributes health care systems, medical supplies and pharmaceutical products. Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags.

History

Image result for McKessonFounded in New York City as Charles M. Olcott in 1828 and later as Olcott, McKesson & Co. by Charles Olcott and John McKesson in 1833, the business began as an importer and wholesaler of botanical drugs. A third partner, Daniel Robbins joined the enterprise as it grew, and it was renamed McKesson & Robbins following Olcott's death in 1853.

The company successfully emerged from one of the most notorious business/accounting scandals of the 20th century—the McKesson & Robbins scandal, a watershed event that led to major changes in American auditing standards and securities regulations after being exposed in 1938. In the 1960s, McKesson & Robbins merged with Foremost Dairies of San Francisco to form Foremost-McKesson Inc.

Related imageSince the mid-20th century, McKesson has derived an increasing proportion of its income from medical technology, rather than pharmaceuticals. This culminated in its purchase of medical information systems firm HBO & Company (HBOC) in 1999; the combined firm was briefly known as McKessonHBOC. Accounting irregularities at HBOC reduced the company's share price by half, and resulted in the dismissal and prosecution of many HBOC executives. The firm's name reverted to "McKesson" in 2001.[6] McKesson Technology Solutions, as the information technology branch of the company is now known, has continued to increase its market share through acquisitions, notably Per Se Technologies, RelayHealth, and Practice Partner.

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In 2010, McKesson acquired leading cancer services company US Oncology, Inc. for $2.16 billion, which was integrated into the McKesson Specialty Care Solutions business.

On June 24, 2013, The Wall Street Journal reported that McKesson Chairman and CEO John Hammergren's pension benefits of $159 million had set a record for "the largest pension on file for a current executive of a public company, and almost certainly the largest ever in corporate America." A study in 2012 by GMI Ratings, which tracks executive pay, found that 60% of CEOs at S&P 500 companies have pensions, and their value averages $11.5 million.

In addition to its offices throughout North America, McKesson also has international offices in Australia, Ireland, France, the Netherlands, and the United Kingdom. Today, McKesson is one of the oldest continually operating businesses in the United States.

Image result for McKessonIn 2014, McKesson acquired Celesio to become one of the world's largest health care companies, with over $179 billion in annual revenue.
As of August 23, 2016, McKesson has decided to merge a majority of its IT business with Change Healthcare.
In 2017, McKesson was involved in a number of lawsuits against the state of Arkansas over the supply of vecuronium bromide. McKesson was under contract by Pfizer not to sell to any correctional facility that authorized and carried out Capital punishment.

Division

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.
In October 2013, McKesson agreed to buy a 50% stake in German peer Celesio for $8.3 billion.
Image result for McKesson

McKesson Medical Supplies and Equipment

McKesson Medical-Surgical (MMS) offers a large selection of national health care brands, along with McKesson’s exclusive brand of medical products.
Their online medical supply ordering platform serves the needs of physician offices, surgery centers, home health agencies, DMEs, labs, and long-term-care facilities.
In 2015 McKesson Medical-Surgical opened its new headquarters in Richmond, Virginia.

Health Mart pharmacy franchise

Health Mart is a network of over 4,000 independently owned and operated pharmacies. It is a wholly owned subsidiary of McKesson Corporation, which owns the name "Health Mart." McKesson acquired Health Mart owner FoxMeyer in October 1996.

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