McKesson Restructures Business Segments to Focus on High-Margin Healthcare Services

McKesson Corporation announced significant changes to its reportable segments and organizational structure, effective in the second quarter of fiscal year 2026. The restructuring aims to enhance strategic alignment and transparency while supporting portfolio management optimization to drive sustainable long-term value creation for shareholders.

Chief Financial Officer Britt Vitalone stated that the updated reporting structure reflects a strategic evolution of the business, accelerating growth in high-margin areas including oncology, multispecialty, and biopharma services. The changes reinforce the company's disciplined approach to capital allocation and shareholder value creation.

The new organizational framework establishes four primary reportable segments. The North American Pharmaceutical segment combines McKesson's scaled wholesale drug distribution businesses in the United States and Canada, delivering distribution services to retail and community pharmacies and institutional healthcare providers.

The Oncology and Multispecialty segment includes integrated solutions across oncology and multispecialty providers, featuring specialty provider solutions with distribution-related capabilities such as specialty drug distribution and group purchasing organizations. This segment also supports physician-led, community-based oncology networks and serves other multispecialty providers including retina and ophthalmology practices, while offering clinical trial services and specialty pharmacy solutions.

Prescription Technology Solutions connects patients, pharmacies, providers, pharmacy benefit managers, health plans, and biopharma through scaled networks, improving medication access and affordability while delivering measurable value to biopharma companies. Additional details about this segment will be available on McKesson's Investor Relations website at https://investor.mckesson.com.

The Medical-Surgical Solutions segment delivers medical-surgical supply distribution, logistics, and related services to healthcare providers across alternate sites of care. McKesson announced in May 2025 its intention to separate this segment into an independent company, marking a significant strategic shift in its business portfolio.

The restructuring comes as McKesson prepares to divest its distribution and retail operations in Norway, having entered into a definitive agreement on August 4, 2025, subject to customary closing conditions and regulatory approvals. The company will provide supplemental historical information by new reportable segments in a separate 8-K filing with the Securities and Exchange Commission.

McKesson will host an Investor Day on September 23, 2025, featuring presentations by the leadership team and a live Q&A session with CEO Brian Tyler and CFO Britt Vitalone. The event will provide additional insights into the strategic rationale behind the organizational changes and their expected impact on the company's future growth trajectory in the evolving healthcare landscape.