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McKesson Corp. completes divestiture of Canada-based Rexall and Well.ca businesses

Birch Hill acquired the drugstore chain from McKesson Corp. in a transaction that closed Dec. 30.

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IRVING, Texas – McKesson Corp. reported this week that it has closed the transaction announced in September 2024 to sell its Canada-based Rexall and Well.ca businesses to Birch Hill Equity Partners, a Canadian private equity firm.

Financial terms of the deal have not been disclosed.

Rexall operates 385 pharmacies across Canada and employs about 8,000 people.

Birch Hill also acquired Texas-based McKesson's Well.ca business, which offers more than 40,000 health and wellness products online.

"This transaction marks an important milestone aligned to our enterprise strategy, advancing our strategic priorities, further streamlining our business and prioritizing investment in our growth areas of oncology and biopharma services," said Brian Tyler, chief executive officer at McKesson.

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"This transaction marks an important milestone aligned to our enterprise strategy, advancing our strategic priorities, further streamlining our business and prioritizing investment in our growth areas of oncology and biopharma services," said Brian Tyler, Chief Executive Officer, McKesson.

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