McKesson & Robbins
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Formerly called
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Olcott & McKesson (1833–1853) McKesson & Robbins (1853–1999) McKessonHBOC (1999–2001) |
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| Public | |
| Traded as | : MCK S&P 500 Component |
| Industry | Healthcare |
| Founded |
New York City, United States 1833 |
| Founder | John McKesson Charles Olcott |
| Headquarters | San Francisco, California, U.S. |
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Key people
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John Hammergren (Chairman and CEO) |
| Products |
Pharmaceuticals Medical technology Health care services |
| Revenue |
 US$190.8 billion (2016) |
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US$3.54 billion (2016) |
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US$2.25 billion (2016) |
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| Total assets | US$56.52 billion (2016) |
| Total equity |
US$8.92 billion (2016) |
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Number of employees
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68,000 (2016) |
| Subsidiaries | Rexall Pharmacy Group Health Mart |
| Website | www |
McKesson Corporation is an American company distributing pharmaceuticals at a retail sale level and providing health information technology, medical supplies, and care management tools. The company had revenues of $198.5 billion in 2017.
McKesson is based in the United States and distributes health care systems, medical supplies and pharmaceutical products. Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags.
It is a Fortune Global 500 company, and the 5th highest revenue generating company in the United States.
Founded in New York City as Charles M. Olcott in 1828 and later as Olcott, McKesson & Co. by Charles Olcott and John McKesson in 1833, the business began as an importer and wholesaler of botanical drugs. A third partner, Daniel Robbins joined the enterprise as it grew, and it was renamed McKesson & Robbins following Olcott's death in 1853.
The company successfully emerged from one of the most notorious business/accounting scandals of the 20th century—the McKesson & Robbins scandal, a watershed event that led to major changes in American auditing standards and securities regulations after being exposed in 1938. In the 1960s, McKesson & Robbins merged with Foremost Dairies of San Francisco to form Foremost-McKesson Inc.
Since the mid-20th century, McKesson has derived an increasing proportion of its income from medical technology, rather than pharmaceuticals. This culminated in its purchase of medical information systems firm HBO & Company (HBOC) in 1999; the combined firm was briefly known as McKessonHBOC. Accounting irregularities at HBOC reduced the company's share price by half, and resulted in the dismissal and prosecution of many HBOC executives. The firm's name reverted to "McKesson" in 2001.McKesson Technology Solutions, as the information technology branch of the company is now known, has continued to increase its market share through acquisitions, notably Per Se Technologies, RelayHealth, and Practice Partner.
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Wikipedia