Asset management firm TPG Inc. TPG and pharmaceutical services company AmerisourceBergen Corp. ABC announced Thursday an agreement to buy oncology practices network OneOncology from private equity firm General Atlantic in a deal that values OneOncology at $2.1 billion. After the deal closes, which is expected to occur by the end of September 2023, TPG will own a majority of OneOncology, and AmerisourceBergen will pay $685 million in cash for a 35% stake. “The investment in OneOncology will allow AmerisourceBergen to further deepen our relationships with community oncologists and expand on our solutions in specialty,” said AmerisourceBergen Chief Executive Steven Collis. AmerisourceBergen’s stock, which was still inactive in premarket trading, has slipped 0.7% year to date, while the Health Care Select Sector SPDR exchange-traded fund XLV has slipped 1.4% and the S&P 500 SPX has gained 8.2%.
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