Cencora announced plans to acquire Retina Consultants of America (RCA) for $4.6 billion, expanding the company’s presence in specialty healthcare and retinal care. The deal will provide Cencora, a wholesaler of pharmaceuticals that also provides consulting services for medical business operations, with an 85% stake in RCA, the company said in a press release. 

RCA, a management services organization for nearly 300 retina specialists across 23 states, conducts over 2 million patient visits annually. It operates a robust clinical research network with 40 trial sites and 400 research staff. Under the terms of the deal, affiliated practices will retain minority ownership.

“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,” said Bob Mauch, president and CEO of Cencora, in the press release. “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.”

RCA leaders welcomed the partnership, noting Cencora’s resources would support further expansion and innovation. “The ability to become a part of Cencora and its purpose-driven culture will further advance RCA’s mission of saving sight and improving the lives of our patients and communities we serve through innovation,” said David Brown, MD, co-chair of RCA’s Medical Leadership Board.

According to Cencora, the deal includes contingent payments of up to $500 million, which depend on achieving specific milestones. Cencora plans to fund the acquisition through cash and debt financing, while maintaining its investment-grade credit rating. Pending regulatory approvals, the transaction is expected to close later this year.