NEW YORK, April 20, 2023: Morgan Lewis is advising AmerisourceBergen Corporation in its partnership with TPG Capital to acquire OneOncology, the nation’s largest independent community oncology network, valued at $2.1 billion. TPG, AmerisourceBergen, and OneOncology’s affiliated practices, physicians, and management team will form a new joint venture that will acquire OneOncology from its existing shareholders, including current majority owner General Atlantic.
AmerisourceBergen will purchase its minority interest in the joint venture for approximately $685 million in cash, which will represent approximately 35% ownership in the joint venture. In addition, AmerisourceBergen and TPG Capital have agreed to a put/call structure that provides AmerisourceBergen a path to 100% ownership of OneOncology in three to five years from the closing of this initial transaction.
AmerisourceBergen is a global pharmaceutical solutions company focused on improving the lives of people and animals around the world. With more than $200 billion in annual revenue, AmerisourceBergen is ranked No. 10 on the Fortune 500 and No. 21 on the Global Fortune 500.
Morgan Lewis partners Aaron Suh, Crystal Fang, Andrew Budreika, Bart Bassett, Paul Gordon, Mims Maynard Zabriskie, Erin Randolph-Williams, Albert Shay, and Banee Pachuca, and associates Lindsay Mozdziock, Michael Brown, Jose Robles, Anjali Deshpande, Dorian Deen, Matthew Bannon, Arden Lieberman, Claire Rowland, and Andreas Andrews are representing AmerisourceBergen.