Nashville, Tenn.-based HCA Healthcare inked a deal with McKesson June 23 to enter a joint venture combining the two institutions' cancer research efforts.
The joint venture between McKesson's U.S. Oncology Research and HCA Healthcare's Sarah Cannon Research Institute plans to offer an expanded clinical research network, a broader portfolio of clinical trials, and enhanced data and analytics capabilities to better match patients to trials.
The transaction is expected to close in 2022. McKesson will own 51 percent of the joint venture and have operating control.
"In the last three decades, our collaborations have led to advancing treatment standards for the majority of new cancer therapies that are available to patients today," said Dee Anna Smith, chief executive officer of Sarah Cannon Research Institute. "We believe that coming together with US Oncology Research will complement and strengthen our network so that we can continue to make a greater impact for people living with cancer."