Rite Aid To Acquire EnvisionRx - Quick Facts

(RTTNews) - Rite Aid (RAD) and Envision Pharmaceutical Services, or EnvisionRx, announced that they have entered into a definitive agreement under which Rite Aid will acquire EnvisionRx, in a transaction valued at approximately $2 billion, which includes the value of an expected future tax benefit of $275 million. Rite Aid will pay approximately $1.8 billion in cash and $200 million in Rite Aid stock, or approximately 27.9 million shares.

EnvisionRx is a national, full-service pharmacy benefit management company. EnvisionRx is part of a group of healthcare management companies owned and operated by Envision Pharmaceutical Holdings, LLC (EPH). EPH is a portfolio company of TPG.

Rite Aid expects the transaction to be accretive to its earnings per share in the first full year following the closing of the transaction. The transaction is expected to close by September, 2015.