Company:McKesson Corporation

Founder: Charles Olcott and John McKesson

Industry: Healthcare Systems and Pharmaceutical Products

History:

Charles Olcott and John McKesson started out as importers and wholesalers of botanical drugs. In 1833, they formed Olcott & McKesson as their venture further expanded. Daniel Robbins joined the company later. In 1853, the franchise was renamed to McKesson and Robbins after Olcott’s death.

The company was involved in one of the biggest auditing scandals in the 20th century but survived after it changed its auditing systems following the fiasco in 1938. By the middle of the 20th century, more of the company’s profits were coming from medical technology rather than pharmaceutical. By 1999, McKesson bought the medical information systems firm HBO and Company.

The acquisition of the said firm ushered in the information technology branch of McKesson Corporation: the McKesson Technology Solutions. McKesson Technology Solutions has continued expanding its shares by buying out notable companies like Per Se, RelayHealth, and Practice Partner.

McKesson has remained as one of United States oldest companies still in operation and has enjoyed success in the global market. They have established offices in Europe and Australia, aside from the ones they have in the United States.

Presently, McKesson Corporation has 32,000 people in its employ and owns the “Health Mart” franchise. The Health Mart is a network of 1,600 independently owned pharmacies. In the field of medical technology, McKesson Corporation has provided several medical information systems and finance services and has been developing the Electronic Staff Record System, which will integrate the payroll for the National Health System in UK upon its completion in the year 2008.

In Australia and New Zealand, McKesson Corporation has provided telephone-based healthcare support system. Their services include referral, medical and clinical advice, disease management, and medical information.

Leadership:

• John H. Hammergren, Chairman of the Board, President and Chief Executive Officer
• Andy D. Bryant, Executive Vice President and Chief Administrative Officer, Intel Corporation
• Wayne A. Budd, Senior Counsel, Goodwin Procter LLP
• Alton F. Irby III, Chairman and Partner, London Bay Capital
• David M. Lawrence, M.D., Chairman of the Board and Chief Executive Officer, Retired Kaiser Foundation Health Plan, Inc. and Kaiser Foundation Hospitals
• M. Christine Jacobs, Chairman, President and Chief Executive Officer, Theragenics Corporation

Trivia: McKesson Corporation is listed as on of Fortune’s Global 500 Companies. It is the 18th biggest company in the United States and the single biggest health care company in the globe.