McKesson selling automation unit in Cranberry to private equity firm
By Alex Nixon
Published: Wednesday, Oct. 16, 2013, 10:39 a.m.
McKesson Corp. has agreed to sell its Cranberry automation business to a San Francisco private equity firm.
Terms of the deal were not disclosed. McKesson Automation makes robotic equipment used in hospitals to code and distribute pharmaceuticals.
Private equity firm Francisco Partners said it plans to change the name of McKesson Automation after the deal closes, which is expected during the current quarter.
In May, San Francisco-based McKesson Corp. said it planned to sell the automation business, which it purchased for $65 million in 1996 from Sean McDonald. McDonald, who founded the company as Automated Healthcare around 1990, went on to found Precision Therapeutics Inc., a South Side company that produced a test used by cancer doctors to set chemotherapy doses.
McKesson Automation employs about 780 people, with 480 of them in Cranberry at its administration offices and manufacturing plant, spokeswoman Betsy Martinelli said.
The company is not expecting any changes after the deal closes, she said, calling the management of Francisco Partners “hands-off.”
Francisco Partners said in a statement that it plans to work with the company's leadership team “to expand the automation business as a standalone company.”
Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Consider carefully details, people involved in financial trust
- More women seize opportunities to start businesses
- Is tech wreck on way?
- ‘Sweet spot’ mid-cap stocks worthy of investor affection
- Lawsuit challenges Hollywood standard of unpaid internships
- Squeezed by competition, Chobani to expand offerings
- Pa. unemployment rate falls to lowest since 2008; 12,000 more enter workforce
- Meat prices drain barbecue budgets
- Chocolate prices expected to soar as ingredients grow more expensive
- Retailers tailor store experience to phones
- Investment in Western Pa. startups reaches 5-year high