The Oncology Institute Announces Expanded Strategic Agreement with McKesson for Distribution of Pharmaceuticals
CERRITOS, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI” or the “Company”), one of the largest value-based oncology groups in the United States, announced today the signing of an expanded partnership agreement with McKesson Corporation (“McKesson”) for drug distribution and clinical technology.
The multi-year agreement is intended to streamline TOI’s pharmaceutical distribution logistics and provide operational and financial alignment to continue, and execute upon, the Company’s expansion strategy.
“Having the right distribution partner is paramount for TOI’s growth,” shared Brad Hively, TOI’s Chief Executive Officer. “We are very pleased to further strengthen our partnership with McKesson and feel they are best positioned to support TOI ’s growth and to enhance our ability to deliver high-value oncology care to our patients.”
TOI began providing in-office access to infused therapies in 2007 and launched its physician dispensary in 2010. TOI currently performs 57,000 infusions and prescribes more than 8,000 injectable and oral chemotherapeutics annually.
Founded in 2007, The Oncology Institute of Hope and Innovation (TOI) is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of more than 1.5 million patients including clinical trials, stem cell transplants, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 80+ employed clinicians and more than 600 teammates in 50+ clinic locations and growing, TOI is changing oncology for the better.
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and on the current expectations of TOI and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of TOI. These forward-looking statements are subject to a number of risks and uncertainties, including the outcome of judicial and administrative proceedings to which TOI may become a party or governmental investigations to which TOI may become subject that could interrupt or limit TOI’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in TOI’s clients’ preferences, prospects and the competitive conditions prevailing in the healthcare sector; the risk that any required regulatory approvals could adversely affect the company; failure to continue to meet stock exchange listing standards; the impact of COVID-19 on the company’s business; those factors discussed in the documents of TOI filed, or to be filed, with the U.S. Securities and Exchange Commission. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that TOI presently does not know or that TOI currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect TOI’s expectations, plans or forecasts of future events and views as of the date of this press release. TOI anticipates that subsequent events and developments will cause TOI’s assessments to change. TOI does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should not be relied upon as representing TOI’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
The Oncology Institute
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