McKesson Corp., a healthcare services and information technology company, has completed its acquisition of US Oncology, a company that serves one of the nation's largest networks of community-based oncologists.

McKesson executives made the announcement on Dec. 30.

The total transaction, including the assumption or repayment of the outstanding debt of US Oncology and its subsidiaries, was valued at approximately $2.2 billion. The cash consideration paid by McKesson at the merger closing was approximately $415 million.

With the completion of the acquisition, initially announced on November 1, executives say McKesson now delivers one of the most comprehensive sets of oncology practice-management offerings in the country to help strengthen the financial performance of community oncologists, advance the science of cancer care and provide the highest quality care for patients.

"Today marks a significant milestone in our vision for advancing the success of community oncology," said John H. Hammergren, chairman and CEO of McKesson. "We are pleased to welcome US Oncology's customers and employees to McKesson. The unified organization will provide oncology practices with access to a robust suite of business, clinical and supply-chain solutions that will help enhance the health and vitality of community-based oncology and improve the quality and cost-effectiveness of patient care."

Hammergren said oncologists would have the option of selecting from a wide range of products and services, such as specialty distribution or inventory-management solutions, or choosing to become a comprehensive strategic alliance (CSA) customer, which provides technology, practice-management services, and other resources and expertise designed to help community oncologists achieve long-term success.
 
The combined business will be led by Bruce Broussard, CEO of US Oncology, and will be headquartered in The Woodlands, Texas, with continuing operations in the San Francisco Bay Area and other locations throughout the country. Broussard reports to Paul Julian, executive vice president and group president, McKesson.