Kroger To Sell Specialty Pharmacy Business To CarelonRx

(RTTNews) - Kroger Co. (KR) Monday said it has agreed to the sale of its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health.

Colleen Lindholz, President of Kroger Health, said, "As part of our regular review of assets, it became clear that our strong specialty pharmacy business unit will better meet its full potential outside of our business. One of the most important considerations was continued operations to ensure minimal disruption to our associates and patients."

The retailer's specialty pharmacy serves patients with chronic illness that requires complex care. Skilled clinicians and superior therapy programs allow patients and prescribers to benefit from education and resources, counseling, side effect management, financial assistance, personalized care and administrative expertise.

Kroger Specialty Pharmacy is separate from other Kroger Family of Pharmacies, including in-store retail pharmacies and The Little Clinics, and therefore in-store retail pharmacies and The Little Clinics are not included in this transaction.

The transaction is subject to customary closing conditions, including regulatory approvals and is expected to close in the second half of 2024. It is not expected to have an impact on Kroger's 2024 guidance.