McKesson announced plans to separate its Medical-Surgical Solutions segment into an independent company, aiming to sharpen strategic focus and enhance growth opportunities across its core businesses.

The Irving, Texas-based healthcare services giant said the move reflects its ongoing commitment to "disciplined portfolio management" and is designed to create two focused, well-capitalized companies. The new standalone entity, referred to as “NewCo” for now, will center on medical-surgical supplies and solutions for alternate sites of care, including physician offices, surgery centers, and long-term care facilities.

“With this planned separation, we are positioning both McKesson and Medical-Surgical Solutions to pursue growth opportunities aligned with their respective strengths,” said Brian Tyler, McKesson’s CEO. “We believe that the separation will deliver sustainable long-term growth for both companies.”
According to the company, the spinoff will allow McKesson to concentrate capital and resources on higher-margin, higher-growth areas, particularly in oncology and biopharma solutions. The medical-surgical business generated $11.4 billion in revenue for fiscal 2025, up 1% from the prior year, with segment profit flat year-over-year at $1.0 billion in adjusted terms.

McKesson noted that NewCo will launch with a "compelling leadership position" and expects to leverage its platform for growth across various care settings. The company did not provide a timeline or structural details for the separation but said it is committed to executing the transaction in a way that maximizes shareholder value.

The announcement came alongside McKesson’s fourth-quarter and full-year earnings, which highlighted a strong performance driven by its pharmaceutical distribution and specialty services businesses. For fiscal 2025, McKesson reported $359.1 billion in consolidated revenue, up 16% from the prior year.

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