M&A · Healthcare · Services-Home Health Care Services
CD&R and McKesson Corporation to acquire Option Care Health, Inc.
Announced Oct 6, 2026 · Pending Oct 28, 2026
Deal value$5.80BEV $5.80B
Premium37.0%To unaffected price
EV / Adj. EBITDA13.1x1.0x EV / Revenue
ConsiderationAll cash$32.05 per share
Transaction
- Acquirer
- CD&R and McKesson Corporation
- Target
- Option Care Health, Inc. (OPCH)
- Buyer type
- Private equity
- Offer price per share
- $32.05
- Enterprise value
- $5.80B
- Status
- Pending Oct 28, 2026
Deal protections
- Break fee (target pays)
- $146M · 2.5%
- Reverse fee (buyer pays)
- $292M · 5.0%
- Go-shop
- —
- Financing
- Committed · Goldman Sachs, BofA Securities, Barclays, Wells Fargo, Jefferies
Advisors
- To the acquirer
- Not disclosed
- To the target
- Centerview
Sector context · Healthcare
- Comparable deals
- 107 in the prior 24 months
- Premium
- 37.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- 13.1x vs. 10.7x sector median
- Break fee
- 2.5% vs. 3.5% sector median
Timeline
- AnnouncedOct 6, 2026
- Proxy filedOct 28, 2026
- Definitive proxyPending
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Trading comparables$22.85$29.35
Precedent transactions$22.75$38.50
Discounted cash flow$25.65$34.05
Premiums paid$28.45$33.20
Analyst price targets$23.00$39.00
Offer $32.05
Implied value per Option Care Health, Inc. share by analysis, from Centerview · DCF discount rate 10%–12.5%.