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Cencora's Strategic Move to Acquire TPG's Stake in OneOncology

Cencora, Inc., a prominent player in global pharmaceutical solutions, has formally announced its decision to finalize the acquisition of TPG's equity interest in OneOncology. This definitive agreement also marks a significant advancement for OneOncology, a national platform dedicated to empowering independent oncology practices through physician-led initiatives. The partnership promises to enhance capabilities and elevate the quality of cancer care across the nation.

The CEO of OneOncology, Dr. Jeff Patton, emphasized the importance of this agreement by stating, "We are pleased to advance our longstanding partnership with Cencora, who shares our commitment to supporting independent providers." He also expressed gratitude towards TPG for their previous support, which has significantly contributed to OneOncology’s growth and advancement.

As the complexities of cancer care continue to evolve, Cencora’s extensive expertise in the healthcare landscape is expected to play a crucial role. By maintaining the independence of OneOncology while investing in essential resources, the platform aims to enhance its value significantly for both practices and patients. In this pursuit, they will leverage shared services, growth investments, clinical innovations, and expanded technology capabilities.

Bob Mauch, Cencora’s President and CEO, reiterated their excitement over acquiring OneOncology, stating that this move aligns perfectly with Cencora's focus on growth-oriented investments. Since making their initial investment, OneOncology has experienced considerable growth driven by its physician-led model, attracting top practices and medical professionals dedicated to providing high-quality patient care.

Cencora is optimistic that this acquisition, in conjunction with their recent acquisition of RCA, will bolster both platforms—enhancing research capacities, clinical trial capabilities, advanced technologies, and robust physician leadership. These enhancements are aimed at delivering unique value to stakeholders and improving patient access to quality care in their local communities.

The collaboration with TPG has been characterized as instrumental in propelling OneOncology's capacity to provide sophisticated and accessible care. Kendall Garrison, a TPG Partner, expressed pride in the partnership, highlighting OneOncology’s expansion and integration of patient-centered practices into its network. TPG’s commitment since 2023 has been evident in accelerating accessible care initiatives, and they anticipate that Cencora's continued support will further solidify OneOncology’s success.

About OneOncology

Founded by community physicians for community physicians, OneOncology aims to improve the lives of individuals affected by cancer. The organization enables independent practices to maintain their autonomy while facilitating improved patient care access and reducing costs compared to hospital settings. With a strong platform of community medical practices, OneOncology is backed by group purchasing, operational optimization, practice growth initiatives, and clinical advancements. Currently, the network comprises around 2,300+ providers serving approximately 1.5 million patients across over 645 care sites nationwide.

About Cencora

Cencora is recognized for its global influence in pharmaceutical solutions, primarily focused on enhancing health outcomes for people and animals. By collaborating with innovators across the value chain, Cencora champions market access to therapies, ensuring secure delivery of pharmaceuticals and healthcare products through its robust team of over 51,000 members worldwide. The organization boasts impressive revenue figures, ranking #10 on the Fortune 500 and #18 on the Global Fortune 500 list.

About TPG

TPG, a leading alternative asset management firm, has assets under management amounting to $286 billion. Distinctively founded in San Francisco in 1992, TPG focuses on a diversified range of investment strategies. Its collaborative, innovative, and inclusive approach positions it as an industry leader, providing exceptional value to investment partners and contributing positively to community needs.

This acquisition underscores Cencora’s commitment to transforming cancer care and maximizing the value delivered to oncology practices and their patients, bringing hope for enhanced healthcare access and quality across the nation.

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