BETHLEHEM, Pa.- A healthcare and pharmaceutical company’s plan to spin-off one of its business segments will impact a Lehigh Valley distribution center.
McKesson previously announced plans to separate its Medical-Surgical Solutions (MMS) business into an independent, publicly traded company.
Earlier this month, McKesson said the private equity and asset management firm Apollo had successfully acquired a 13% stake in MMS for $1.25 billion. McKesson will retain operating control and majority ownership of the new business.
A company spokesperson said the Medical-Surgical segment anticipates becoming an independent, publicly traded company through an initial public offering (IPO) in the second half of calendar year 2027, pending market conditions, business performance and regulatory approvals.
McKesson operates a distribution center that falls under the MMS umbrella at 3769 Commerce Center Blvd. in Bethlehem. It opened in 2019 on land that once belonged to Bethlehem Steel near Hellertown.
The center processes, packs and ships orders for customers across the region. “We look forward to continuing to serve these customers during and after the transition to an independent company,” the spokesperson wrote in an email.
The spokesperson declined to provide the number of employees who work at the Bethlehem facility, or to say whether the headcount would be affected by the spin-off.
Besides its MMS segment, McKesson also has a pharmaceutical distribution segment, an oncology and multispecialty segment, and a prescription technology solutions segment.
McKesson is headquartered in Irving Texas, and has business hubs in Virginia, Ohio and Quebec.