IRVING, Texas—McKesson Corporation (NYSE: MCK), a health care services provider, announced that it has signed a definitive agreement to acquire a controlling interest in PRISM Vision Holdings, LLC, a provider of general ophthalmology and retina management services, from private equity firm Quad-C. According to the agreement, McKesson will purchase an 80 percent interest in PRISM Vision for approximately $850 million. PRISM Vision physicians will continue to retain a 20 percent interest in the company, the announcement said.

“McKesson’s long history of supporting specialty physicians by emphasizing clinical quality and enhancing patients’ access to care, is completely aligned with the core values and culture of PRISM Vision Group,” said Dr. Steven Madreperla, chief executive officer of PRISM Vision. “We are thrilled to be able to bring together PRISM’s exceptional provider base and service delivery platform with McKesson’s deep expertise in care delivery to further develop and expand our eyecare network together.”

This transaction will enable McKesson to pursue several key strategic objectives, according to the company, including:

  • Developing a leading retinal and ophthalmology platform, expanding McKesson’s differentiated value proposition, clinical services and distribution offerings.

  • Expanding data and analytics capabilities.

  • Furthering innovative investment in clinical research opportunities.

  • Deepening biopharma partnerships.
“The acquisition of PRISM Vision will allow McKesson to build on our leadership in community practice and specialty solutions, while building a platform to serve the high-growth area of retina and ophthalmology,” said Brian Tyler, chief executive officer of McKesson. “PRISM Vision has a strong track record and value proposition for community-based physicians and a strong leadership team focused on delivering superior retinal care, enhancing the provider experience and delivering innovative clinical research capabilities. We intend to develop a leading platform for retinal care, delivering differentiated solutions and value across providers, biopharma partners and patients.”

Following completion of the transaction, PRISM Vision will be consolidated within McKesson’s U.S. Pharmaceutical segment. The transaction is subject to customary closing conditions, including necessary regulatory clearances, according to the announcement.

PRISM affiliated practices include more than 180 providers, 91 office locations and seven ambulatory surgery centers.