A big company that delivers IV treatments to patients at home is going private. Clayton, Dubilier & Rice, a private equity firm known as CD&R, and McKesson, one of the largest U.S. drug distributors, agreed Tuesday to buy Option Care Health, the companies said.

They will pay $32.05 a share in cash. Counting debt, the deal values Option Care at about $5.8 billion. The price is about 37% above Monday's closing price.

Investors cheered. Option Care shares rose about 33% on Tuesday, The Motley Fool reported. The stock traded a little below the offer price, a sign investors expect the deal to go through.

Option Care calls itself the nation's largest independent provider of home and alternate site infusion services. Infusion means giving medicine through a vein, often for serious or long-term illness. The company has more than 8,000 workers, including over 5,000 clinicians, and serves patients in all 50 states.

CD&R will own about 51%. McKesson will invest about $1.4 billion for about 49%. The deal also sets up a path for McKesson to buy CD&R's share later, if certain conditions are met.

McKesson CEO Brian Tyler said the move fits its plan to bring complex drugs "at or closer to home." As these treatments grow, he said, delivering them is getting more complicated.

Option Care will stay a separate company led by its current team. Its stock will leave the Nasdaq when the deal closes.

Some background: Option Care's stock fell 24% after a weak first-quarter report this year, The Motley Fool said. Even after Tuesday's jump, it sits about 15% below its high from earlier this year.

The deal needs shareholder and regulatory approval. It is expected to close in the first half of 2027. Option Care will still report third-quarter results on Nov. 4 but will skip its usual call and has withdrawn its guidance.

What we know: Buyers are paying $32.05 a share, about 37% above Monday's close.
What we don't: Whether antitrust regulators will review McKesson's stake closely.