CRANBERRY TWP — McKesson Corp. has agreed to sell its Cranberry Woods-based automation business to Francisco Partners of San Francisco for an undisclosed price.
McKesson Automation creates pharmacy automation programs for hospitals and health systems. The business has a range of products for medication delivery in hospitals, including pharmacy, nursing and surgical services.
McKesson Automation has more than 780 employees with 480 of those in Cranberry Woods and in a nearby production facility on Pennwood Place in the Thorn Hill Industrial Park.
It ranks as the 21st largest employer in Butler County, according to the Pennsylvania Department of Labor and Industry.
Francisco Partners officials said the business will operate under a new name after the sale closes, which is expected by the end of the year.
With more than $7 billion of capital raised, Francisco Partners said it is one of the largest and most active technology-focused private equity firms in the world.
McKesson bought Automated Healthcare in 1996 from founder Sean McDonald for $65 million. which later became McKesson Automation. That company had been in existence since 1990.
McKesson ranks 14th on the FORTUNE 500 with more than $123 billion in annual revenue. The company creates medicine, medical supplies and health care information technology solutions for the health care industry.