Cencora, Inc. - COR STOCK NEWS

Cencora (NYSE: COR) has announced pricing for three senior notes offerings totaling $1.8 billion: $500 million of 4.625% notes due 2027, $600 million of 4.850% notes due 2029, and $700 million of 5.150% notes due 2035. The offering, expected to close on December 9, 2024, will fund the acquisition of Retina Consultants of America's majority stake and general corporate purposes. The offering is managed by BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, and Wells Fargo Securities.

Cencora (NYSE: COR) reported Q4 fiscal 2024 revenue of $79.1 billion, up 14.7% year-over-year, with full-year revenue reaching $294.0 billion, a 12.1% increase. Q4 GAAP diluted EPS was $0.02, while adjusted diluted EPS grew 16.8% to $3.34. For fiscal 2024, GAAP diluted EPS decreased 11.7% to $7.53, while adjusted diluted EPS increased 14.8% to $13.76.

The company increased its quarterly dividend by 8% to $0.55 per share and announced the acquisition of Retina Consultants of America. U.S. Healthcare Solutions revenue grew 15.7% to $71.7 billion, while International Healthcare Solutions revenue increased 5.5% to $7.4 billion in Q4.

Cencora (NYSE: COR) has announced a definitive agreement to acquire Retina Consultants of America (RCA) from Webster Equity Partners for $4.6 billion in cash. RCA is a leading management services organization of retina specialists, with nearly 300 specialists across 23 states conducting over 2 million patient visits annually. Cencora will hold approximately 85% ownership, while RCA's affiliated practices, physicians, and management will retain a minority interest. The acquisition is expected to be $0.35 accretive to Cencora's adjusted diluted EPS in its first twelve months and includes potential contingent payments up to $500 million in fiscal years 2027 and 2028.

Cencora (NYSE: COR) announced two key appointments to its enterprise leadership team. Francois Mandeville joins as Executive Vice President, Strategy and M&A, bringing extensive experience from Johnson Controls and Danaher , where he helped grow business from $2.2B to $15B. Pawan Verma becomes Executive Vice President, Chief Data and Information Officer, joining from MetLife where he led a 10,000-person organization as Global CIO. These appointments aim to advance Cencora's pharmaceutical-centric strategy, enhance digital transformation, and drive growth through M&A and technological innovation.

Cencora, Inc. (NYSE: COR) has announced the date for its Fourth Quarter Fiscal 2024 Earnings Release. The company will release its results on Wednesday, November 6, 2024, before the New York Stock Exchange opens. A conference call to discuss the results is scheduled for 8:30 a.m. ET on the same day.

The call will feature Robert P. Mauch, President & CEO, and James F. Cleary, Executive VP & CFO. Investors can access the live webcast via investor.cencora.com. For telephone access, US and Canada participants should dial (833) 470-1428, while international callers should use +1 (404) 975-4839, with access code 272044.

Replays will be available via webcast and telephone. Cencora, ranked #10 on the Fortune 500, is a global pharmaceutical solutions organization with over $250 billion in annual revenue.

Frazier Healthcare Partners, a private equity firm focused on healthcare, has announced that Willis Chandler has joined their Growth Buyout team as an Executive in Residence. Chandler will help develop and execute investment strategies in pharma and pharmacy services, focusing on sourcing, diligence, and leadership of a new platform investment.

Chandler brings extensive experience, having most recently served as President of Global Pharma Services at Cencora (NYSE: COR), where he led a multi-billion dollar business unit with 10,000 employees. His background includes leadership roles at CVS Health and co-founding Shields Specialty Pharmacy. Chandler's expertise in entrepreneurial leadership, commercial transformation, and acquisition integration is expected to be valuable in Frazier's efforts to invest in disruptive growth-oriented healthcare companies.

Cencora, Inc. (NYSE: COR) has announced the election of Frank Clyburn to its Board of Directors, effective October 1, 2024. This addition will increase the board to thirteen members. Mr. Clyburn, a seasoned executive with extensive experience in the pharmaceutical industry, most recently served as CEO and board member of International Flavors and Fragrances Inc. His background includes leadership roles at major pharmaceutical manufacturers, notably as Executive Vice President and President of Human Health at Merck. Cencora's leadership, including Lead Independent Director Mark Durcan and Chairman, President & CEO Steven H. Collis, expressed confidence that Mr. Clyburn's expertise will contribute to the company's long-term growth and pharmaceutical-centric strategy.

Cencora (NYSE: COR) has announced a $250 million share repurchase from Walgreens Boots Alliance Holdings This buyback coincides with Walgreens Boots Alliance's sale of Cencora shares under Rule 144. The repurchase will be executed at the same price as the Rule 144 sale, with shares held in treasury. This move is part of Cencora's existing share repurchase program.

Cencora, ranked #10 on the Fortune 500 and #24 on the Global Fortune 500, is a leading global pharmaceutical solutions organization with over $250 billion in annual revenue. The company partners with pharmaceutical innovators to optimize market access and provides secure delivery of healthcare products to care providers. Cencora employs 46,000+ team members worldwide, focusing on improving health outcomes for people and animals globally.

Walgreens Boots Alliance (WBA) has announced the sale of its remaining unencumbered shares of Cencora, Inc. (COR) for approximately $1.1 billion. The transaction includes an $818 million sale pursuant to Rule 144 and a $250 million concurrent share repurchase by Cencora. This move reduces WBA's ownership of Cencora from about 12% to 10%. The proceeds will be primarily used for debt paydown and general corporate purposes, aligning with WBA's strategy to develop a more capital-efficient health services model based on its retail pharmacy network. Importantly, the sale does not affect the long-term strategic partnership between WBA and Cencora, which has been in place since 2013. Ornella Barra, WBA's Chief Operating Officer, International, will continue to serve on Cencora's Board of Directors.