Cencora to Acquire American Oncology Network in $2.4 Billion Transaction

Cencora announced an agreement to acquire American Oncology Network, a specialty practice support platform.

What happened

The announced enterprise value is approximately $2.4 billion including up to $100 million in contingent consideration. AON supports more than 350 oncology providers in 21 states. Certain holders may roll over equity, and closing remains subject to conditions.

Why it matters

The deal illustrates strategic demand for specialty-specific practice infrastructure and provider relationships. It is not directly comparable to standalone RCM businesses because AON is a much broader oncology platform.