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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
About this update from The Oncology Institute, Inc.
[{"type":"text","content":"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. About TOIFounded 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. Forward-Looking StatementsThis 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 ass...