C.O.
Take him to your own pediatrician and find out if they have a behavioral psychologist on staff. If not, ask for a referral.
If you let the school do it - which is fine - you will only have one opinion. Why not get 2?
There are plenty of ways to help your child. An evaluation can track him for 30 days to see if there are "triggers" or ways to help him redirect, keep his hands to himself (at 7, he should be able to follow the rules).
Keep the lines of communication open.
Don't be so quick to give your son medication. Find out if there are things in his diet - processed foods, etc. that keep him from paying attention. Check his sleep patterns - does he sleep the night through? does he snore when he sleeps?