“Market Cap $40.51 B As of May 2014
At a Glance
- Industry: Pharmaceuticals
- Founded: 1833
- Country: United States
- CEO: John Hammergren
- Website: www.mckesson.com
- Employees: 43,500
- Sales: $130.09 B
- Headquarters: San Francisco, California
#243 Global 2000
- #31 in Sales
- #566 in Profit
- #647 in Assets
- #246 in Market value
McKesson Corp. is a health services and information technology company, which provides medicines, pharmaceutical and care management products. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes ethical and proprietary drugs, medical-surgical supplies and equipment and health and beauty care productsthroughout North America. This segment also provides specialty pharmaceutical solutions for biotech and pharmaceutical manufacturers, sells financial, operational and clinical solutions for pharmacies. The McKesson Technology Solutions segment provides software, automation, business services and consulting to hospitals, physician offices, imaging centers and home healthcare. It also provides interactive connectivity services that streamline clinical, financial and administrative communication between patients, providers, payers, pharmacies and financial institutions agencies and payers. The company was founded by John McKesson and Charles Olcott in 1833 and is headquartered in San Francisco, CA.“
Spanning the Centuries for Better Health
McKesson took roots in the earliest days of the United States — when organized health care in America was just taking shape. Over the past 180+ years we have played a fundamental role in helping to shape the design and direction of health care: helping to set standards for the health care supply chain and playing a large role in our industry’s technology revolution.
1833–1855: A World of Distribution
John McKesson and Charles Olcott founded the company in 1833 in New York City to import and sell therapeutic drugs and chemicals wholesale. The company did a brisk business stocking the medicine chests aboard trade ships with pharmaceutical drugs imported from Europe as well as medicinal herbs, roots and spices from Pennsylvania Shaker colonies.
In 1853, the company was renamed McKesson & Robbins, after an employee who became a partner in the firm, Daniel Robbins. By then, the company was distributing pharmaceutical products by covered wagon to 17 states and territories across America, from Vermont to California.
1855–1900: Pioneering Drug Manufacturing
In 1855, McKesson & Robbins became one of the first wholesale firms to manufacture drugs. The company’s fluid extracts, tinctures, pills and tablets soon became known all over the world, and McKesson & Robbins won medals for its pioneering work.
1900s–1960s: Expanding Horizons
In the early 1900s, McKesson & Robbins persuaded several well-established wholesalers to become its subsidiaries, forming a national drug wholesaling company and becoming the leading distributor of pharmaceutical drug products in the United States. This move also shifted the company’s focus to distribution for other kinds of products beyond health care.
1960s–1980s: Distribution Leadership
During the 1960s, McKesson & Robbins continued its focus on distribution by merging with Foremost Dairies of San Francisco to form Foremost-McKesson Inc. The new company became the largest U.S. distributor of pharmaceutical drugs, alcoholic beverages and chemicals; the largest supplier of whey by-products; the largest producer of processed water; a leader in the fresh dairy products field; and a multiregional distributor of hospital and laboratory supplies and equipment.
1980s–1990s: A Renewed Focus on Health Care
In the 1980s and 1990s, McKesson decided to focus more on health care and divested its unrelated businesses. The company acquired Automated Health care, now part of McKesson Automation, and General Medical, the largest distributor of medical-surgical supplies. The company also acquired HBO & Company and operated for a time as McKesson HBOC — the world’s largest health care services company.
Today, McKesson is ranked 15th on the FORTUNE 500 with more than $137.6 billion in annual revenue. The company delivers vital medicines, medical supplies and health care information technology solutions that touch the lives of patients in every health care setting. McKesson is committed to creating a health care system that leads to lower costs, fewer mistakes, higher quality and better health for all.
Over the past decade, we have launched initiatives and solutions aimed at reshaping health care. Among some of these important initiatives:
- Our Health Mart® pharmacy franchise has changed the face of independent pharmacy, enabling independents to thrive in business while providing exemplary care and service to their communities.
- The US Oncology Network, part of McKesson Specialty Health, is advancing cancer care by expanding patient access to high-quality, integrated care among community-based oncology physicians. The network leverages technology, shared best practices, evidence-based guidelines and quality measurements.
- We recently entered into the CommonWell Health Alliance, a collaborative effort among health IT suppliers to reach common standards, seamless interoperability and data liquidity between electronic medical record (EMR) systems — an essential part of connecting health care providers for better clinical outcomes. “
*Information from Forbes.com and Mckesson.com
**Video published on YouTube by “McKessonCorporation“