McKesson (MCK) Boosts FY17 EPS Outlook
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McKesson (MCK) Ratings Affirmed by S&P; Outlook is Stable
June 29, 2016 8:56 AM EDTS&P Global Ratings today affirmed all of its ratings on McKesson Corp. (NYSE: MCK), including the 'BBB+' corporate credit rating. The outlook is stable.
"The ratings affirmation is based on our expectation that the separation will have no material impact on credit metrics," said S&P Global Ratings credit analyst Tulip Lim. We continue to expect that the company will not sustain leverage above 2x. We expect leverage will rise slightly from current levels (adjusted leverage was 1.5x as of fiscal year ended March 31, 2016). The company announced the acquisition of Rexall,... More
McKesson (MCK) Ratings Affirmed by Moody's
June 28, 2016 5:19 PM EDTMoody's Investors Service, ("Moody's") today affirmed McKesson Corporation's (NYSE: MCK) Baa2 senior unsecured debt ratings and its Prime-2 short term rating. This action follows news that the company plans to contribute most of its information technology (IT) business to a newly formed joint venture (JV) with Change Healthcare, Inc. (B2 Corporate Family Rating). Change Healthcare is a healthcare software company owned by Blackstone and Hellman and Friedman. McKesson's rating outlook remains stable. However, Moody's noted that this development is credit negative because it will reduce McKesson's diversification profile and its profitability.
Ratings affirmed: McKesson... More
FBR Sees McKesson's (MCK) Merger, Spin-off Actions as 'Solid Step' to Exiting IT Business
June 28, 2016 11:45 AM EDTFBR affirms McKesson Corporation (NYSE: MCK) with an Outperform rating and $210 price target after the company announced plans to merger most of its IT assets with Change Healthcare and spin its Enterprise Information Solutions unit.
Analyst Steven Halper offered the following commentary on... More
McKesson (MCK) Plans to Explore Options for EIS Business
June 28, 2016 8:18 AM EDTMcKesson Corporation (NYSE: MCK) announced that it is exploring strategic alternatives for its Enterprise Information Solutions (EIS) business, a division of McKesson that provides core hospital information systems.
EIS serves hospitals and health systems with software solutions, managed services, and infrastructure and hosting services to enable them to succeed through healthcare reform and beyond. The portfolio includes core solutions such as: Paragon® hospital information system; STARTM and HealthQuestTM solutions for revenue cycle management, financial and supply chain management; OneContentTM... More
McKesson (MCK) Enters Merger Agreement with Change Healthcare
June 28, 2016 8:16 AM EDTMcKesson Corporation (NYSE: MCK) and Change Healthcare Holdings, Inc., a leading provider of software and analytics, network solutions and technology-enabled services, announced the creation of a new healthcare information technology company. The entity will combine substantially all of Change Healthcares business and the majority of McKesson Technology Solutions (MTS) into a new company with fiscal year end March 31, 2016 pro forma combined total annual revenues of $3.4 billion.
The new organization brings together the complementary strengths of MTS and Change Healthcare to deliver a broad portfolio of solutions that will help lower healthcare costs,... More
