McKesson Medical-Surgical is headquartered at Marwaha Business Plaza in Henrico. (BizSense file photo)
As McKesson Medical-Surgical moves forward toward spinning off as an independent, publicly traded company, it has shared plans to remain headquartered locally and unveiled a new name.
The Henrico-based medical supplies distributor announced Wednesday that it plans to rebrand to Wellverse as part of its pending separation from Texas-based McKesson Corp., an ongoing process that kicked off about a year ago.
McKesson Medical-Surgical President Stanton McComb said in an interview this week that the company, which has about 1,000 Richmond-area employees, intends to keep its main offices in the Richmond area after the transition.
Stanton McComb
“I think our employees love the Richmond area. It’s great for families, great cost of living,” McComb said. “It’s a great place for us to recruit talent, and our commitment is to absolutely keep our headquarters here.”
The company’s headquarters is in the Marwaha Business Plaza office building at 9954 Mayland Drive near Innsbrook, where it is the anchor tenant with about 119,000 square feet. McComb said that while the company expects to increase the size of its local team, there aren’t any plans to leave the property, which was formerly known as Deep Run III and was part of Circuit City’s headquarters campus.
“As we grow in staffing, we’ll either grow our presence in that area or look at other places, but for now, in the short term, that’s going to be our headquarters,” McComb said.
McKesson Medical-Surgical has leased space in the building since 2014.
The company said it has 15 distribution centers and two redistribution centers, as well as a fleet of about 1,000 trucks. Nationwide, it has a workforce of about 7,800 people.
McKesson Medical-Surgical generated $11.5 billion in revenue and $938 million in operating profit during the company’s fiscal year 2026, which ended March 31, according to an earnings report. The parent company McKesson Corp. reported $403.4 billion in consolidated revenue for the period.
Based on its revenue, it would appear McKesson Medical-Surgical could potentially join the ranks of the region’s Fortune 500 companies once it is an independent firm, but McComb declined to speculate on how the company might stack up on the coveted list.
“We’re not too worried about the rankings,” he said. “If we continue to take care of our customers, I think we’re going to be in a good spot, and we’ll fall in the rankings where we fall at that moment.”
McKesson recently renewed its lease as anchor tenant in the former Deep Run III building, which it shares with Travelers and others. (Courtesy Marwaha Investments)
McKesson Medical-Surgical anticipates it will begin to operate under the new Wellverse name starting in January. McComb said the spin-off as an independent company was about halfway complete, but didn’t share a date when the process is expected to officially finish. Plans for the company to go independent were announced in May 2025.
As part of that process the company intends to go public and estimated that its initial public offering will take place in the second half of 2027.
McKesson Medical-Surgical is known as a supplier of medical products, but also sells pharmaceuticals, lab equipment and medical tests. The new Wellverse branding is intended to convey the range of products the company offers and its ability to meet many of the needs of its customers, McComb said.
“As we separate out, this is just a great opportunity for us to redefine ourselves in a way that is more representative of the breadth of products that we sell, but also speaks a little bit to what we endeavor to do for our customers our providers, (to) really help them on a number of different fronts,” McComb said.
McKesson Medical-Surgical distributes about 275,000 products to customers across the country, including long-term care providers, physician’s offices, health systems, labs, government facilities and retailers.
As part of the spin-off, McKesson Medical-Surgical sold a 13% ownership stake to investment giant Apollo Global in a deal announced in June. Apollo invested $1.3 billion for that minority stake, according to a news release.
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