McKesson Announces New Global Headquarters in Las Colinas, Texas

SAN FRANCISCO–(BUSINESS WIRE)–McKesson Corporation (NYSE:MCK) today announced the relocation of its
corporate headquarters from San Francisco, California to Las Colinas,
Texas, effective April 1, 2019, expanding upon its presence in the
Dallas area.

We are excited to strengthen our presence in Texas and make Las Colinas
our official global headquarters,” said John H. Hammergren, chairman and
chief executive officer, McKesson Corporation. “Governor Abbott and the
Irving/Las Colinas community have provided tremendous support since we
opened our Las Colinas campus last April. Making this move will improve
efficiency, collaboration and cost-competitiveness, while providing an
exceptional work environment for our employees.”

McKesson’s Las Colinas campus is already a key hub for the company.
Employees at the North Texas location perform vital functions for the
company in areas such as operations, information technology, finance and
accounting, marketing and sales, administration and support, purchasing,
and project management.

I’m delighted McKesson, a Fortune 6 company, is making Texas the home
of its new global headquarters,” said Texas Governor Greg Abbott. “The
company has a long record of success in our state. McKesson’s expansion
is an example of the kind of high-quality companies and jobs Texas has
attracted as a result of our focus on economic growth, and I am proud to
welcome them to the Lone Star State.”

McKesson’s Las Colinas campus has achieved a LEED Gold certification,
recognizing its resource efficiency, as well as a WELL Building Silver
certification, the first building standard focused solely on human
health and wellness. Elements of the building are designed to support
employee productivity and wellness, empowering employees to work the way
they like while fostering team collaboration amidst an array of
amenities and enhanced technology capabilities.

We are proud that McKesson has decided to make Irving/Las Colinas its
official, corporate home,” said Irving Mayor Rick Stopfer. “Irving is an
amazing city with talented, hard-working people and wonderful amenities.
We’re delighted to have yet another Fortune 500 company make Irving
their global headquarters.”

Following the relocation of its headquarters, McKesson will continue to
have a strong presence in California, employing more than 1,400 people,
primarily in distribution operations and sales. The company opened a new
distribution center for its medical-surgical division in Roseville, CA
earlier this year. McKesson Ventures will remain in San Francisco, along
with a technology development team for McKesson’s US Oncology Network.

Move Supports Multi-Year Strategic Growth Initiative

As previously announced on April 25, 2018, McKesson launched a
multi-year strategic growth initiative, inclusive of plans to optimize
the company’s operating and cost structures. The company expects these
initiatives and actions will generate approximately $300 million to $400
million in annual pre-tax gross savings that will be substantially
realized by the end of Fiscal 2021.

As part of our strategic growth initiative, we’ve developed a hub
location strategy, co-locating people based on the type of work they do
to improve teamwork, advance innovation and increase efficiency,” said
Brian Tyler, president and chief operating officer, McKesson
Corporation. “Bringing employee groups together in key locations will
make McKesson a more streamlined and agile company, complementing our
investments and improving operating profit growth for the organization.”

We are taking great effort, care and consideration to make this
transition as seamless as possible for our associates who will be
affected by this transition,” Tyler continued. “It is important to us
that every employee is treated with dignity and respect, consistent with
McKesson’s ICARE shared principles. San Francisco-based employees are
being offered the opportunity to relocate to Las Colinas and other hub
locations. We look forward to bringing even more of our team together in
our new, world-class global headquarters.”

Risk Factors

Except for historical information contained in this press release,
matters discussed may constitute “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, as amended, that involve risks and
uncertainties that could cause actual results to differ materially from
those projected, anticipated or implied. These statements may be
identified by their use of forward-looking terminology such as
“believes”, “expects”, “anticipates”, “may”, “will”, “should”, “seeks”,
“approximately”, “intends”, “plans”, “estimates” or the negative of
these words or other comparable terminology. The discussion of financial
trends, strategy, plans or intentions may also include forward-looking
statements. It is not possible to predict or identify all such risks and
uncertainties; however, the most significant of these risks and
uncertainties are described in the company’s Form 10-K, Form 10-Q and
Form 8-K reports filed with the Securities and Exchange Commission and
include, but are not limited to: changes in the U.S. healthcare industry
and regulatory environment; managing foreign expansion, including the
related operating, economic, political and regulatory risks; changes in
the Canadian healthcare industry and regulatory environment; exposure to
European economic conditions, including recent austerity measures taken
by certain European governments; changes in the European regulatory
environment with respect to privacy and data protection regulations;
fluctuations in foreign currency exchange rates; the company’s ability
to successfully identify, consummate, finance and integrate
acquisitions; the performance of the company’s investment in Change
Healthcare; the company’s ability to manage and complete divestitures;
material adverse resolution of pending legal proceedings; competition
and industry consolidation; substantial defaults in payment or a
material reduction in purchases by, or the loss of, a large customer or
group purchasing organization; the loss of government contracts as a
result of compliance or funding challenges; public health issues in the
U.S. or abroad; cyberattack, natural disaster, or malfunction of
sophisticated internal computer systems to perform as designed; the
adequacy of insurance to cover property loss or liability claims; the
company’s proprietary products and services may not be adequately
protected, and its products and solutions may be found to infringe on
the rights of others; system errors or failure of our technology
products or services to conform to specifications; disaster or other
event causing interruption of customer access to data residing in our
service centers; changes in circumstances that could impair our goodwill
or intangible assets; new or revised tax legislation or challenges to
our tax positions; general economic conditions, including changes in the
financial markets that may affect the availability and cost of credit to
the company, its customers or suppliers; changes in accounting
principles generally accepted in the United States of America;
withdrawal from participation in multiemployer pension plans or if such
plans are reported to have underfunded liabilities; inability to realize
the expected benefits from the company’s restructuring and business
process initiatives; difficulties with outsourcing and similar third
party relationships; risks associated with the company’s retail
expansion; and the company’s inability to keep existing retail store
locations or open new retail locations in desirable places. The reader
should not place undue reliance on forward-looking statements, which
speak only as of the date they are first made. Except to the extent
required by law, the company undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof, or to reflect
the occurrence of unanticipated events.

Shareholders are encouraged to review the company’s filings with the
Securities and Exchange Commission.

About McKesson Corporation

McKesson Corporation, currently ranked 6th on the FORTUNE
500, is a global leader in healthcare supply chain management solutions,
retail pharmacy, community oncology and specialty care, and healthcare
information technology. McKesson partners with pharmaceutical
manufacturers, providers, pharmacies, governments and other
organizations in healthcare to help provide the right medicines, medical
products and healthcare services to the right patients at the right
time, safely and cost-effectively. United by our ICARE shared
principles, our employees work every day to innovate and deliver
opportunities that make our customers and partners more successful — all
for the better health of patients. McKesson has been named the “Most
Admired Company
” in the healthcare wholesaler category by FORTUNE, a
Best
Place to Work
” by the Human Rights Campaign Foundation, and a top military-friendly
company
 by Military Friendly. For more information, visit www.mckesson.com.

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