McKesson To Sell Rexall And Well.ca To Birch Hill Equity Partners

(RTTNews) - McKesson Corporation (MCK), a provider of medicines and healthcare services, Thursday said it has agreed to sell Rexall Pharmacy group, a chain of retail pharmacies in Canada, and online retailer for health, beauty and baby products, Well.ca, to private equity firm Birch Hill Equity Partners.

Financial terms of the transaction were not disclosed.

McKesson said this deal will help it to focus more on its oncology and biopharma services platforms.

"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.

Additionally, the company said McKesson Canada plans to remain a wholesale distribution supplier to Rexall And Well.ca.