McKesson-CD&R buyout of Option Care Health

1 story, 2 sources

The saga on the S&P 500

Ahead: the saga’s published futures

What it is

Description McKesson and Clayton, Dubilier & Rice agreed to buy Option Care Health in a take-private transaction with CD&R holding majority control. Overview CD&R and McKesson were first reported to be nearing a buyout of Option Care Health at a valuation above $5 billion including debt. The companies then announced a deal worth about $5.8 billion including debt for the at-home infusion therapy provider. Option Care would remain a separate company led by its own management team after the transaction closes. Why it matters The buyout affects Option Care shareholders, McKesson, CD&R and patients served by a large at-home infusion provider. Key details • Shareholders would receive $32.05 per share. • CD&R would own about 51% and McKesson about 49%. • McKesson would invest roughly $1.4 billion. • Option Care serves more than 315,000 patients across 184 care centers.

Scenarios

The whole saga, as last published

Tilt’s estimates for the saga as a whole, each made on its own, so they need not add to 100. Each figure is the modeled move of the S&P 500 if it happens. For information only. Not investment advice.

Scenarios

Stories in this saga

Newest first

TuesdayOct 6, 2026 · 1 story
1. 8:27 AM
  CD&R, McKesson to Acquire At-Home Infusion Therapy Provider for $5.8 Billion
  2 more reports +
  - McKesson and CD&R Buy Option Care Health for $32.05 a Share25 days ago
  - McKesson and CD&R Near $5B Buyout of Option Care Health26 days ago

Portfolio

S&P 500

Saga, if it plays out

3 ways this saga could turn

Possible futures, not reported news · chances and moves from Tilt’s model

69%est.0.0%
Binding acquisition agreement for Option Care Health by McKesson and CD&R
This is a company-specific acquisition shock, not a market event: broad US equities remain at 0% over 20 days. The target gains 25%, while acquisition financing and execution concerns weigh on the acquirer and closely trading healthcare distributors, leaving Healthcare down $1.14 billion.
18%est.0.0%
Option Care Health buyout path ends — no-replacement branch
This is a company-specific repricing event: Option Care Health (OPCH) falls 15%, erasing $511M, while the broad equity market remains at +0%. Healthcare loses $485M, while Technology gains $262M, but both sector returns round to 0%. The split reflects lost transaction value at Option Care Health rather than a change in the wider economy.
1%est.0.0%
Completion of Option Care Health acquisition by McKesson and CD&R
The economic thesis is a concentrated healthcare repricing event, not a macro shock: US equities stay at 0%, while Option Care Health (OPCH) rises 25% and healthcare gains $808M. DocGo (DCGO) gains 2.6% through measured co-movement with Option Care Health, while other sectors show only near-zero valuation effects rather than operating damage.

Each figure is the modeled move of the S&P 500 if it happens. For information only. Not investment advice.

Keeping an eye on this saga?

CD&R, McKesson to Acquire At-Home Infusion Therapy Provider for $5.8 Billion

Binding acquisition agreement for Option Care Health by McKesson and CD&R

Option Care Health buyout path ends — no-replacement branch

Completion of Option Care Health acquisition by McKesson and CD&R