National drugstore chain Rexall Health is being sold to U.S. health care giant McKesson Corp. as part of a $3-billion deal, the two companies announced Wednesday.
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National drugstore chain Rexall Health is being sold to U.S. health care giant McKesson Corp. as part of a $3-billion deal, the two companies announced Wednesday.
The sale, which is still subject to regulatory approvals, would see the Edmonton-based Katz Group transfer Rexall’s 470 retail pharmacies to McKesson.
The Katz Group and McKesson have worked together for more than 20 years and said the announcement marks a “natural next step” in their relationship. McKesson had also previously acquired Katz’s independent outlets and franchise businesses — primarily operating as I.D.A. and Guardian — for about $920 million in 2012.
