McKesson Announces Early Termination of Hart-Scott-Rodino Act Waiting Period for Acquisition of PSS World Medical

  McKesson Announces Early Termination of Hart-Scott-Rodino Act Waiting Period
  for Acquisition of PSS World Medical

Business Wire

SAN FRANCISCO & JACKSONVILLE, Fla. -- December 26, 2012

McKesson Corporation (NYSE: MCK), a leading healthcare services and
information technology company, announced today that it has received
notification of early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in
connection with the proposed acquisition of PSS World Medical, Inc.
(NASDAQ:PSSI).The termination of this waiting period satisfies one of the
conditions for McKesson’s proposed acquisition of PSS World Medical.

The transaction remains subject to other customary closing conditions,
including approval by the shareholders of PSS World Medical. Subject to
satisfaction of these other closing conditions, the acquisition is expected to
close in the first calendar quarter of 2013.

As previously announced on October 25, 2012, McKesson and PSS World Medical
have signed a definitive agreement under which McKesson will acquire all
outstanding shares of PSS World Medical for $29.00 per share in cash.

About McKesson

McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a
healthcare services and information technology company dedicated to making the
business of healthcare run better. We partner with payers, hospitals,
physician offices, pharmacies, pharmaceutical companies and others across the
spectrum of care to build healthier organizations that deliver better care to
patients in every setting. McKesson helps its customers improve their
financial, operational, and clinical performance with solutions that include
pharmaceutical and medical-surgical supply management, healthcare information
technology, and business and clinical services. For more information, visit
http://www.mckesson.com.

About PSS World Medical, Inc.

PSS World Medical, Inc. (Nasdaq:PSSI) markets and distributes medical products
and services to front-line caregivers throughout the United States. With 4,000
team members, PSS is a leader in the markets it serves with innovative
approaches to customer service and operational excellence. Its stated purpose
is to strengthen the clinical success and financial health of caregivers by
solving their biggest problems. The Company is focused to accelerate growth in
four markets - Physician, Laboratory, Dispensing, and Home Care & Hospice -
with products and solutions that deliver high quality, cost effective, and
convenient patient care. For more information on PSS, visit
www.pssworldmedical.com.

Risk Factors

This press release includes “forward-looking statements” within the meaning of
Section27A of the Securities Act of 1933 and Section21E of the Securities
Exchange Act of 1934, as amended, that are subject to risks and uncertainties
and other factors. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements, including
statements regarding the ability to complete the transaction considering the
various closing conditions; the expected benefits and costs of the
transaction; any projections of earnings, revenues or other financial items;
any statements of the plans, strategies and objectives of management for
future operations; any statements regarding product or service development,
extensions or integration; any statements of expectation or belief; any
statements regarding general industry conditions and competition; any
statements regarding economic conditions; and any statements of assumptions
underlying any of the foregoing. Risks, uncertainties and assumptions include
risks related to the timing or ultimate completion of the transaction, as the
transaction is subject to certain closing conditions, including receipt of all
necessary regulatory clearances and approval of PSS World Medical’s
shareholders; the possibility that expected benefits may not materialize as
expected; McKesson’s ability to successfully implement integration strategies;
as well as the ability to ensure continued performance or market growth of PSS
World Medical’s products and services. These risks, uncertainties and other
factors, and the general risks associated with the respective businesses of
McKesson and PSS World Medical described in the reports and other documents
filed by each of them with the Securities and Exchange Commission, could cause
actual results to differ materially from those referred to in the
forward-looking statements. All forward-looking statements are based on
information currently available to McKesson and PSS World Medical and are
qualified in their entirety by this cautionary statement. Except as required
by law, neither McKesson nor PSS World Medical assumes any obligation to
update any such forward-looking statements or other statements included in
this press release.

Additional Information and Where to Find It

In connection with the proposed acquisition, PSS World Medical plans to file a
definitive proxy statement with the SEC. INVESTORS AND SECURITY HOLDERS OF PSS
WORLD MEDICAL ARE ADVISED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THOSE
DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED ACQUISITION.
The final proxy statement will be mailed to shareholders of PSS World Medical.
Investors and security holders may obtain a free copy of the proxy statement
when it becomes available, and other documents filed by PSS World Medical with
the SEC, at the SEC’s web site at http://www.sec.gov. In addition, you may
also obtain McKesson’s filings with the SEC, free of charge, from McKesson’s
website (www.mckesson.com) under the tab “Investors” through the “SEC Filings”
link and you may obtain PSS World Medical’s filings with the SEC, free of
charge, from PSS World Medical’s website (www.pssworldmedical.com) under the
tab “Investor Relations” through the “SEC Filings” link.

Participants in the Solicitation

McKesson, PSS World Medical and their respective directors, executive officers
and other members of their management and employees may be deemed to be
participants in the solicitation of proxies from PSS World Medical’s
shareholders in connection with the proposed transaction. Information
regarding McKesson’s directors and executive officers is available in
McKesson’s proxy statement for its 2012 annual meeting of stockholders, which
was filed with the SEC on June15, 2012. Information regarding PSS World
Medical’s directors and executive officers is available in PSS World Medical’s
proxy statement for its 2012 annual meeting of shareholders, which was filed
with the SEC on July 6, 2012. Additional information regarding participants in
the proxy solicitations and a description of their direct and indirect
interests will be included in the proxy statement and the other relevant
documents filed with the SEC when it becomes available.

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Contact:

McKesson Contacts:
Erin Lampert, 415-983-8391 (Investors and Financial Media)
Erin.Lampert@McKesson.com
Kris Fortner, 415-983-8352 (General and Business Media)
Kris.Fortner@McKesson.com
or
PSS World Medical Contact:
Jenny Kobin, 904-332-3287 (Investors and Media)
Investor-info@pssd.com
 
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