Cencora has revealed plans to acquire TPG’s equity stake in OneOncology, further consolidating its position in specialty healthcare services. OneOncology operates a national platform supporting independent oncology practices with clinical, operational and data-driven resources, enabling community-based cancer care delivery.

By increasing its ownership, Cencora aims to expand the platform’s reach and strengthen capabilities across care coordination, practice management, analytics and value-based oncology services. The move aligns with Cencora’s strategy to invest in specialised care models that improve outcomes while supporting physician-led practices.

Leadership indicated that the transaction reflects confidence in OneOncology’s growth trajectory and its role in enabling high-quality, locally delivered cancer care. With deeper integration, the platform is expected to accelerate innovation, streamline workflows and enhance access to therapies and clinical insights.

Industry observers view the deal as part of a broader trend toward consolidation in specialty healthcare, where scale and integrated support systems are increasingly critical to delivering efficient, patient-centred oncology care.