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Kroger Closes Sale of Specialty Pharmacy Business

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Kroger (NYSE: KR) has finalized the sale of its specialty pharmacy business to Elevance Health, as announced on October 4, 2024. The transaction, initially agreed upon on March 18, 2024, has been completed with efforts to minimize disruptions for patients and associates. Kroger's in-store retail pharmacies and The Little Clinics were not part of this deal.

The specialty pharmacy, which caters to patients with chronic illnesses requiring complex care, is now under Elevance Health's ownership. Notably, this sale is not expected to affect Kroger's 2024 financial guidance. RBC Capital Markets, served as the financial advisor, while Weil, Gotshal & Manges LLP and Arnold & Porter Kaye Scholer LLP provided legal counsel to Kroger for this transaction.

Kroger (NYSE: KR) ha completato la vendita della propria attività di farmacia specializzata a Elevance Health, come annunciato il 4 ottobre 2024. La transazione, inizialmente concordata il 18 marzo 2024, è stata finalizzata con l'intento di ridurre al minimo le interruzioni per i pazienti e i collaboratori. Le farmacie al dettaglio di Kroger e Le Little Clinics non fanno parte di questo accordo.

La farmacia specializzata, che si occupa di pazienti con malattie croniche che richiedono cure complesse, è ora di proprietà di Elevance Health. È importante notare che questa vendita non dovrebbe influenzare le previsioni finanziarie di Kroger per il 2024. RBC Capital Markets ha agito come consulente finanziario, mentre Weil, Gotshal & Manges LLP e Arnold & Porter Kaye Scholer LLP hanno fornito consulenza legale a Kroger per questa transazione.

Kroger (NYSE: KR) ha finalizado la venta de su negocio de farmacia especializada a Elevance Health, como se anunció el 4 de octubre de 2024. La transacción, acordada inicialmente el 18 de marzo de 2024, se ha completado con el esfuerzo de minimizar las interrupciones para los pacientes y asociados. Las farmacias minoristas de Kroger y The Little Clinics no formaron parte de este acuerdo.

La farmacia especializada, que atiende a pacientes con enfermedades crónicas que requieren cuidados complejos, ahora es de propiedad de Elevance Health. Cabe destacar que se espera que esta venta no afecte la guía financiera de Kroger para 2024. RBC Capital Markets actuó como asesor financiero, mientras que Weil, Gotshal & Manges LLP y Arnold & Porter Kaye Scholer LLP brindaron asesoría legal a Kroger para esta transacción.

Kroger (NYSE: KR)는 2024년 10월 4일 발표된 대로 전문 약국 사업Elevance Health에 매각했다고 최종 발표했습니다. 이 거래는 2024년 3월 18일에 처음 합의되었으며, 환자와 직원에 대한 중단을 최소화하기 위한 노력을 기울였습니다. Kroger의 매장 내 소매 약국 및 The Little Clinics는 이 거래의 일부가 아닙니다.

전문 약국은 복잡한 치료가 필요한 만성 질환 환자를 대상으로 하며, 현재 Elevance Health 소유입니다. 특히, 이번 매각이 Kroger의 2024년 재무 가이드를 영향을 미치지 않을 것으로 예상됩니다. RBC Capital Markets는 재무 자문역으로 활동했으며, Weil, Gotshal & Manges LLP와 Arnold & Porter Kaye Scholer LLP는 이번 거래에 대해 Kroger에게 법률 자문을 제공했습니다.

Kroger (NYSE: KR) a finalisé la vente de son activité de pharmacie spécialisée à Elevance Health, comme annoncé le 4 octobre 2024. La transaction, initialement convenue le 18 mars 2024, a été finalisée en cherchant à minimiser les perturbations pour les patients et les associés. Les pharmacies de détail de Kroger et les Little Clinics ne faisaient pas partie de cet accord.

La pharmacie spécialisée, qui s'occupe des patients atteints de maladies chroniques nécessitant des soins complexes, est maintenant sous la propriété d'Elevance Health. Notamment, cette vente ne devrait pas affecter les prévisions financières de Kroger pour 2024. RBC Capital Markets a agi en tant que conseiller financier, tandis que Weil, Gotshal & Manges LLP et Arnold & Porter Kaye Scholer LLP ont fourni des conseils juridiques à Kroger pour cette transaction.

Kroger (NYSE: KR) hat den Verkauf seines Fachapothekengeschäfts an Elevance Health abgeschlossen, wie am 4. Oktober 2024 angekündigt. Die Transaktion, die ursprünglich am 18. März 2024 vereinbart wurde, ist abgeschlossen worden, wobei versucht wurde, Störungen für Patienten und Mitarbeiter zu minimieren. Die stationären Apotheken von Kroger und The Little Clinics waren nicht Teil dieses Geschäfts.

Die Fachapotheke, die sich um Patienten mit chronischen Erkrankungen kümmert, die komplexe Pflege benötigen, befindet sich nun im Besitz von Elevance Health. Bemerkenswert ist, dass der Verkauf voraussichtlich keine Auswirkungen auf Kroger's Finanzprognose für 2024 haben wird. RBC Capital Markets fungierte als Finanzberater, während Weil, Gotshal & Manges LLP sowie Arnold & Porter Kaye Scholer LLP Kroger in dieser Transaktion rechtlich berieten.

Positive
  • Successful completion of the specialty pharmacy business sale to Elevance Health
  • The sale is not expected to impact Kroger's 2024 financial guidance
  • Retention of in-store retail pharmacies and The Little Clinics
Negative
  • None.

Retailer finalizes sale to Elevance Health

CINCINNATI, Oct. 4, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today announced the transaction to sell its specialty pharmacy business to Elevance Health has closed.

Kroger announced a definitive agreement with Elevance Health for the sale on March 18, 2024. In closing the transaction, the retailer and Elevance Health have worked to ensure minimal disruptions for patients and associates.

Kroger Family of Pharmacies in-store retail locations and The Little Clinics were not included in this transaction.

The specialty pharmacy, formerly owned by Kroger, serves patients with chronic illnesses that require complex care.

The sale is not expected to have an impact on 2024 guidance.

Advisors
RBC Capital Markets, LLC is serving as financial advisor and Weil, Gotshal & Manges LLP and Arnold & Porter Kaye Scholer LLP are serving as legal advisors to Kroger.

About Kroger
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies nearly 420,000 associates who serve over 11 million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site.

Forward Looking Statements
Statements in this release regarding the Company's 2024 guidance, are forward-looking statements within the meaning of federal securities laws about the future performance of the Company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in "Risk Factors" in our annual report on Form 10-K for our last fiscal year and any subsequent filings. Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/kroger-closes-sale-of-specialty-pharmacy-business-302267999.html

SOURCE The Kroger Co.

FAQ

When did Kroger (KR) close the sale of its specialty pharmacy business?

Kroger (KR) closed the sale of its specialty pharmacy business to Elevance Health on October 4, 2024.

What assets were included in Kroger's (KR) specialty pharmacy business sale?

The sale included Kroger's specialty pharmacy business, which serves patients with chronic illnesses requiring complex care. Kroger's in-store retail pharmacies and The Little Clinics were not part of this transaction.

Will the specialty pharmacy sale affect Kroger's (KR) 2024 financial guidance?

No, the sale of Kroger's specialty pharmacy business is not expected to have an impact on the company's 2024 financial guidance.

Who were the advisors for Kroger (KR) in this specialty pharmacy sale transaction?

RBC Capital Markets, served as financial advisor, while Weil, Gotshal & Manges LLP and Arnold & Porter Kaye Scholer LLP acted as legal advisors to Kroger for this transaction.

The Kroger Co.

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