Cencora buys majority of OneOncology for $4.6B

Cencora, Inc. reported quarterly results for the fiscal quarter ended December 31, 2025 via a news release furnished as an exhibit, and is holding a conference call and webcast to discuss these results and related matters.

Rhea-AI Filing Summary

Cencora, Inc. reported quarterly results for the fiscal quarter ended December 31, 2025 via a news release furnished as an exhibit, and is holding a conference call and webcast to discuss these results and related matters.

The company also acquired the majority of the outstanding equity interests it did not previously own in OneOncology, a national oncology-focused physician platform, for total cash consideration of approximately $4.6 billion, funded through new debt financing. OneOncology’s affiliated practices and management retained a minority interest, and OneOncology’s future operating results will be included in Cencora’s U.S. Healthcare Solutions segment.

Insights

Healthcare M&A and Capital Structure Analyst

Cencora adds a large oncology platform for about $4.6B, financed with new debt.

Cencora has acquired the majority of equity interests it did not already own in OneOncology, a physician-led oncology platform, for total cash consideration of approximately $4.6 billion. OneOncology’s results will be consolidated within the U.S. Healthcare Solutions reportable segment, indicating it becomes part of core operations.

The transaction is funded through new debt financing, which increases leverage but preserves existing cash. OneOncology’s affiliated practices and management retain a minority interest, aligning them with future performance while Cencora controls the business.

Future company disclosures covering the U.S. Healthcare Solutions segment and overall debt levels will show how this acquisition affects earnings, margins, and interest expense after December 31, 2025.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What major acquisition did Cencora (COR) disclose in this 8-K?

Cencora disclosed that it acquired the majority of outstanding equity interests it did not previously own in OneOncology for approximately $4.6 billion in cash. OneOncology is a physician-led national platform focused on oncology specialty practices across the United States.

How did Cencora (COR) finance the OneOncology acquisition?

Cencora financed the approximately $4.6 billion cash purchase of the additional OneOncology equity interests through new debt financing. This means the company raised new borrowings rather than using existing cash or issuing equity to fund the transaction.

Will OneOncology be fully owned by Cencora (COR) after this deal?

Cencora acquired the majority of the OneOncology equity interests it did not already own, but OneOncology’s affiliated practices and management retained a minority interest. Cencora will consolidate OneOncology’s results while minority holders continue to own a smaller stake.

How will OneOncology be reported in Cencora’s (COR) financial statements?

Cencora stated that OneOncology’s future operating results will be consolidated and reported as a component of its U.S. Healthcare Solutions reportable segment. This brings OneOncology’s revenues and expenses into Cencora’s segment-level financial reporting going forward.

What earnings information did Cencora (COR) provide for the quarter ended December 31, 2025?

Cencora issued a news release announcing its earnings for the fiscal quarter ended December 31, 2025, attached as Exhibit 99.1. While specific figures are not quoted here, the release and an accompanying conference call cover the quarter’s financial performance.

What investor events accompanied Cencora’s (COR) quarterly earnings release?

Alongside the earnings news release, Cencora is holding a conference call and webcast at 8:30 a.m. Eastern time on February 4, 2026. Related slides and a link to the event are available on the company’s investor website at investor.cencora.com.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/04/2026 - 06:31 AM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

_________________________________

FORM 8-K

_________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 2, 2026

  _________________________________

Cencora, Inc.

(Exact name of registrant as specified in its charter)

_________________________________

Commission File Number: 1-16671

Delaware

23-3079390

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

1 West First Avenue

Conshohocken

PA

19428-1800

(Address of principal executive offices)

(Zip Code)

(610) 727-7000

(Registrant’s telephone number, including area code) 

Not Applicable

(Former name or former address, if changed since last report.)

 Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of exchange on which registered
Common stock			COR			New York Stock Exchange			(NYSE)
2.875% Senior Notes due 2028			COR28			New York Stock Exchange			(NYSE)
3.625% Senior Notes due 2032			COR32			New York Stock Exchange			(NYSE)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On February 4, 2026 Cencora, Inc. (the “Company”) issued a news release announcing the Company’s earnings for the fiscal quarter ended December 31, 2025. A copy of the news release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Current Report, including the exhibit attached hereto as Exhibit 99.1 and the information under Item 7.01 below, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. This information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01. Regulation FD Disclosure.

On February 2, 2026, the Company acquired the majority of the outstanding equity interests that it did not previously own in OneOncology, a physician-led national platform empowering independent medical specialty practices rooted in oncology for a total cash consideration of approximately $4.6 billion. OneOncology’s affiliated practices and management retained a minority interest in OneOncology. The Company funded the transaction through new debt financing. OneOncology’s future operating results will be consolidated as a component of the U.S. Healthcare Solutions reportable segment.

On February 4, 2026, the Company is conducting a conference call and webcast scheduled to be held at 8:30 a.m. Eastern time regarding its results for the fiscal quarter ended December 31, 2025 and related matters.

A link to the conference call and slides prepared for the conference call are available on the Company's website at investor.cencora.com.

Item 9.01. Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit  Number			Description
99.1			News Release of Cencora, Inc. dated February 4, 2026
104			Cover Page Interactive Data File (formatted as inline XBRL)

 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						CENCORA, INC.
Date:			February 4, 2026			By:			/s/ James F. Cleary
						Name:			James F. Cleary
						Title:			Executive Vice President & Chief Financial Officer