Spotlight: McKesson Completes General Medical Purchase

San Francisco-based McKesson Corp. said it completed its acquisition of closely held General Medical Inc. for about $775 million in cash, stock and debt, creating North America’s largest health-care supply management company. General Medical, with 1996 sales of $1.7 billion, sells products to hospitals, doctors and nursing homes. McKesson agreed to the acquisition days before the Richmond, Va.-based firm planned to sell shares through a $163-million initial public offering.