KEY TAKEAWAYS
- Grocery-store chain Kroger is selling its specialty pharmacy business to U.S. health insurer Elevance Health.
- Kroger didn’t disclose financial details of the deal, which it said is expected to close in the second half of 2024.
- The deal comes after the Federal Trade Commission last month sued to block the merger between Kroger and Albertsons.
Grocery-store chain Kroger (KR) is selling its specialty pharmacy business to U.S. health insurer Elevance Health (ELV).
Kroger didn’t disclose the financial details of the deal, wh🌠ich it said iꦇs expected to close in the second half of 2024. The specialty pharmacy business serves patients with chronic illness that requires complex care, according to the grocery-store firm.
Kroger said the specialty pharmacy business is separate from its in-store retail pharmacies and The Little Clinic business, which aren't part of the transaction.
The deal comes after the Federal Trade Commission 澳洲幸运5开奖号码历史查询:last month sued to block the merger between Kroger and Albertsons (ACI), arguing the tie-up would put upward pressure on🀅 alr🌃eady elevated food prices.
The 澳洲幸运5开奖号码历史查询:regulator said last month that the two companies had offered to divest "several hundred stores and select other assets" to C&S Wholesale Grocers to secure antitrust approval for their merger.
The deal, a $24.6 billion transaction, was announced in 2022 and could create a chain of 5,000 stores.