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McKesson Corporation

McKesson Corporation
Company nameMcKesson Corporation
Company typePublic
IndustryHealth care
FoundedNew York City, New York (1833)
as Olcott & McKesson
Founder(s)John McKesson
Charles Olcott
HeadquartersSan Francisco, California, U.S.
Key peopleJohn Hammergren
(Chairman and CEO)
Household products
Medical technology
Health care services
Revenue(+) US$ 108.702 billion (FY 2010) 
Operating income(+) US$ 2.008 billion (FY 2010)
Net income(+) US$ 1.263 billion (FY 2010)
Total assets(+) US$ 28.189 billion (FY 2010)
Total equity(+) US$ 7.532 billion (FY 2010)
Employees32,500 (March 2010)

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McKesson Corporation (Nyse - MCK) is the largest health care company in the world, with sales of $106.6 billion in 2009.

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 15th largest company in the United States.

Founded in New York City as Olcott & McKesson 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 lead to major changes in American auditing standards and securities regulations after being exposed in 1938. 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. In 2010, McKesson acquired leading cancer services company US Oncology, Inc. for $2.16 billion, which was integrated into the McKesson Specialty Care Solutions business.

In addition to its offices throughout North America, McKesson also has international offices in Australia, Ireland, France, the Netherlands, and the United Kingdom. Today, McKesson is one of the oldest continually operating businesses in the United States.

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