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Kroger mentioned it’s planning to promote its speciality pharmacy business to pharmacy profit supervisor CarelonRx, a subsidiary of Elevance Well being, the corporate mentioned Monday.
The grocery store chain mentioned it expects to shut the sale of its speciality pharmacy enterprise through the second half of this 12 months.
The sale doesn’t embody its in-store retail pharmacies and its The Little Clinics, the corporate mentioned, including that the transaction is not going to have an effect on the corporate’s 2024 fiscal outlook.
Furthermore, the Cincinnati, Ohio-based Kroger mentioned the sale isn’t tied to its deliberate merger to amass grocery-store chain Albertsons Cos. Inc for $24.6 billion, which is beneath federal scrutiny.
In February, the grocery store chain was sued by the Federal Trade Commission (FTC) after talks of the deal — thought-about to be one of many largest merger proposals in U.S. historical past — would result in grocery value hikes for shoppers and diminished competitors. The grocery chains have steered selling hundreds of stores in a bid to extend the proposal’s enchantment.
Colleen Lindholz, president of Kroger Well being, mentioned that after the corporate reviewed its property, it was evident that its specialty pharmacy enterprise would attain “its full potential outdoors of our enterprise.”
Kroger’s speciality pharmacy primarily serves sufferers with persistent diseases that require complicated care, together with sufferers going through sure ailments comparable to progress hormone deficiencies and bleeding problems, the corporate mentioned.
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