McKesson swoops for System C in £87m deal
McKesson UK Holdings, based in Warwick, has announced its intention to acquire System C Healthcare for £87m. McKesson, a healthcare technology solutions provider, is a wholly owned subsidiary of McKesson Corporation, and was formed for the purpose of making the acquisition.
System C, based in Kent, specialises in health and social care technology.
Through the deal, System C shareholders will receive 70 pence in cash per share, valuing the company at about £87m.
The System C directors, who were advised by Charles Stanley Securities, said they considered the terms of the acquisition to be “fair, reasonable and in the best interests of System C and System C Shareholders as a whole”.
Patrick Carter, chairman of McKesson Information Solutions UK, said: “McKesson believes that this is a very attractive offer to System C Shareholders in light of the current challenging market conditions. We believe that the combination will, in time, provide both of our organisations with the prospects for further growth and real opportunities for our staff.
"Further, the complementary sets of products and services will enhance our ability to deliver value and further compelling propositions to an evolving healthcare technology market.”
The acquisition is conditional certain approvals by System C shareholders and court approval.
