Birch Hill Equity Partners did not immediately reveal financial terms of the agreement it struck with McKesson, a Texas-based health-care services business.
Birch Hill Equity Partners says it has signed a deal with McKesson Corp. to buy Rexall Pharmacy Group and online retailer Well.ca. A Rexall drugstore is shown in Ottawa, on Wednesday, March 2, 2016.Pharmacy Group and online retailer Well.
Rexall operates 385 pharmacies across Canada and employs about 8,000 people. Well.ca offers more than 40,000 health and wellness products online. While Birch Hill declined an interview request on the deal, it said in its Thursday release that it’s “committed to maintaining and investing in reliable, accessible health care services to expand Rexall’s network of pharmacies across Canada.”
“When I think of private equity companies, it seems to me they act like house flippers,” she wrote in an email.
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