McKesson will buy Med3000; terms not disclosed

SAN FRANCISCO -- Prescription drug distributor McKesson Corp. said Monday that it agreed to buy Med3000, a health care management and technology service company.

Med3000 helps physician groups manage their businesses. Its services include billing and revenue management tools, hosting electronic health records systems, and bill collections services. The company is based in Pittsburgh and has about 2,800 employees. McKesson said the deal will expand its revenue management division.

The companies did not disclose terms of the agreement.

Shares of McKesson rose 34 cents to $86.37 in midday trading.