M&A
confidence high
sentiment positive
materiality 0.85
Cencora to acquire Retina Consultants of America for $4.6B, ~85% ownership, accretive $0.35
Cencora, Inc.
- Enterprise value of $4.6B cash; expected cash outlay ~$4.3B after physician/management rollover and fees.
- Cencora will hold ~85% ownership; up to $500M contingent consideration in FY2027-2028 tied to predefined objectives.
- Transaction expected ~$0.35 accretive to adjusted diluted EPS in first 12 months post-close.
- RCA operates nearly 300 retina specialists across 23 states, 2M+ annual visits, 40 clinical trial sites.
- Funding via cash on hand and new debt; $3.3B bridge financing obtained; fiscal 2025 guidance excludes deal.