General Atlantic to Sell Stake in OneOncology to TPG and AmerisourceBergen

Paul, Weiss is advising General Atlantic and portfolio company OneOncology in the sale of OneOncology to global alternative asset management firm TPG and global pharmaceutical solutions organization AmerisourceBergen Corporation. The transaction values OneOncology, a network of leading oncology practices, at $2.1 billion.

Under the terms of the deal, TPG, AmerisourceBergen and OneOncology’s affiliated practices, physicians and management team will form a new joint venture that will acquire OneOncology from majority owner General Atlantic and other shareholders. TPG will acquire a majority interest in the company, and AmerisourceBergen and the OneOncology affiliate team will each acquire minority interests. The transaction is subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Matthew Abbott and Ellen Ching, and includes corporate partner Suhan Shim; tax partner Lindsay Parks; litigation partners Joshua Soven and Andrew Gordon and counsel Steven Herzog; intellectual property partner Charles Googe; executive compensation partner Jarrett Hoffman; real estate partner Peter Fisch; and environmental counsel William O’Brien.