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Photo: Reuters via Investing.com

Option Care Health Stock Jumps 34% on $5.8B Buyout Deal

SEC / Option Care Health2 min read5 sources

Why is Option Care Health stock up today?

Option Care Health (OPCH) stock jumped about 34% to roughly $31 on Tuesday after CD&R and McKesson agreed to buy it for $32.05 a share, a $5.8 billion deal including debt.

Key numbers

Offer price per share$32.05+37% vs Oct 5 close
Deal value incl. debt$5.8B
OPCH early trading~$31.03+33% to +34%
McKesson investment (49%)$1.4B
Oct 5 close before deal$23.37+3% on day

What happened

Option Care Health (OPCH) stock jumped about 34% to roughly $31 on Tuesday after CD&R and McKesson agreed to buy it for $32.05 a share, a $5.8 billion deal including debt. That price is 37% above Monday's close of $23.37. CD&R, a private equity firm, would own 51% and drug distributor McKesson 49%, investing about $1.4 billion. Shares had already climbed about 22% after hours Monday when the Financial Times reported the talks. The deal is expected to close in the first half of 2027.

Why it matters

Option Care Health is the largest independent provider of infusion care, where patients get IV medicines at home instead of in a hospital. The sale takes it off the stock market, so shareholders are paid in cash and the stock will stop trading once the deal closes. McKesson, which already supplies drugs to doctors, gets a bigger role in home care and can later buy CD&R's stake. Shareholders and regulators must still approve the deal.

Who this affects

Marketneutral
Low impact
Option Care shareholders gain; wider market barely affected.
Companybullish
High impact
Shareholders cash out at $32.05; company goes private in 2027.
Competitorsmixed
Medium impact
McKesson gains home-infusion reach; smaller rivals face stiffer competition.
Industrybullish
Medium impact
Home-infusion care draws big-money interest, signaling growth appeal.

Option Care Health vs McKesson, Cardinal Health, Cencora

Option Care HealthOPCH$3.5B+3%—
McKessonMCK$107.8B+2.1%—
Cardinal HealthCAH$54.3B+2.1%—
CencoraCOR$60.1B+1.9%—

As of 2026-10-05

How we got here

  1. Financial Times reports McKesson and CD&R near a $5B-plus deal; shares rise about 22% after hours.

  2. Option Care Health announces definitive agreement at $32.05 per share, about $5.8B including debt.

  3. Shares jump about 34% in early trading to roughly $31.

What to watch

  • Option Care shareholder vote and regulatory approvals needed to complete the deal.H1 2027
  • Whether McKesson later buys CD&R's 51% stake under the agreed framework.After closing

Educational content only. Not investment advice.

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