Kroger closes sale of specialty pharmacy business
Kroger announced the transaction to sell its specialty pharmacy business to Elevance Health has closed.
The company announced a definitive agreement with Elevance Health for the sale on March 18, 2024. In closing the transaction, the retailer and Elevance Health have worked to ensure minimal disruptions for patients and associates.
Kroger Family of Pharmacies in-store retail locations and The Little Clinics were not included in this transaction.
[Read more: FTC trial over Kroger-Albertsons merger begins]
The specialty pharmacy, formerly owned by Kroger, serves patients with chronic illnesses that require complex care.
The sale is not expected to have an impact on 2024 guidance.
RBC Capital Markets is serving as financial advisor and Weil, Gotshal & Manges and Arnold & Porter Kaye Scholer are serving as legal advisors to Kroger.
[Read more: Kroger to lower prices following merger with Albertsons]