Cencora is buying 350 oncology prescribers for $2.4 billion. Its own 10-K says ten customers are 66 percent of its revenue.
October 25, 2026 · for subscribers
On October 21, 2026, Cencora signed a definitive agreement to acquire American Oncology Network, a physician-led network of more than 350 oncology providers across 21 states, at an enterprise value of $2.4 billion. Cencora has been an investor in AON since 2020 and expects to pay about $1.7 billion to take its stake to 75 percent. It is the third physician-practice platform the distributor has bought into in three years. The announcement does not use the words drug purchasing, formulary, pathway or GPO.