Irving-based McKesson Corp. has finalized the sale of its Canada-based Rexall and Well.ca businesses to Birch Hill Equity Partners, a mid-market Canadian private equity firm.
McKesson said the deal enables it to focus capital deployment and prioritize investments expanding its strategic oncology and biopharma growth platforms.
The deal, which was announced in September, closed on Dec. 30, McKesson said.
No financial details were disclosed.
In a Sept. 5 news release, McKesson said the sale to Birch Hill would give Rexall and Well.ca a partner “committed to investing the resources and capital needed to build on the businesses’ strong foundation, while providing services to Canadians from more locations, to address critical healthcare needs.
“McKesson Canada continues to see value in Rexall and Well.ca and intends to remain a wholesale distribution supplier to each business,” it added.
McKesson Corp. is a diversified healthcare services company providing biopharma companies, care providers, pharmacies, manufacturers, governments, and others with pharmaceuticals, medical supplies, and healthcare information technology.
It ranks No. 9 on the latest Fortune 500 list, with $276.7 billion in 2023 revenue.
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