Cencora Acquires Retina Consultants of America

Contract research organization Cencora has entered into a definitive agreement to acquire Retina Consultants of America (RCA), a management services organization (MSO) of retina specialists, from Webster Equity Partners.

Cencora, formerly known as AmerisourceBergen, will acquire RCA for approximately $4.6 billion in cash, subject to a customary working capital and net-debt adjustment. RCA’s affiliated practices, physicians and management will retain a minority interest in RCA, with Cencora holding approximately 85% ownership in RCA upon closing. Additionally, Cencora will potentially pay up to $500 million in aggregate contingent consideration in fiscal year 2027 and fiscal year 2028, subject to the successful completion of certain predefined business objectives.

“The acquisition of RCA will allow Cencora to broaden our relationships with community providers in a high growth segment and build on our leadership in specialty,” Bob Mauch, president & CEO of Cencora, said in a company news release. “With a compelling value proposition for physicians, an impressive leadership team and strong clinical research capabilities, RCA is well-positioned at the forefront of retinal care. We intend to use our leading operational infrastructure to help RCA enhance the provider experience, drive innovative new research and create better outcomes for patients. Following our recent investment in OneOncology, the addition of RCA will allow us to expand our MSO solutions and drive differentiated value across the healthcare system for manufacturers, providers and patients.”

RCA has nearly 300 retina specialists across 23 states. The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals.