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StocksMediumUpdated•Originally published 20 April 2026•Updated 21 April 2026•

1 min read

Apollo to Invest $1.25 Billion in McKesson's Medical-Surgical Unit Ahead of Planned IPO

Key Facts

1McKesson signed an agreement with Apollo Funds for a $1.25 billion investment in a minority stake of its Medical-Surgical Solutions (MMS) business.

about 1 month ago

Version History

3 additional sources confirmed this story

Version 1about 1 month ago

What changed: Added the specific timeline for the planned IPO, which is targeted for the second half of 2027.

McKesson Corporation has entered into a definitive agreement with funds managed by Apollo Global Management for a $1.25 billion investment in its Medical-Surgical Solutions (MMS) business. The transaction values the MMS unit at approximately $13 billion, granting Apollo an approximate 13% minority stake through convertible preferred equity. This strategic move is designed to unlock value and position the business for a future separation via a planned initial public offering (IPO). According to the updated plans, the IPO for the MMS unit is now scheduled to take place in the second half of 2027. While McKesson will retain majority control and operational oversight, the partnership leverages Apollo’s expertise to drive long-term growth. The capital infusion and the established timeline for the public debut underscore a broader strategy to maximize shareholder returns through targeted divestitures.