McKesson completes $2.1B acquisition of Rexall Health

San Francisco-based McKesson has wrapped up its acquisition of Mississauga, Ontario, Canada-based Rexall Health.

Through the $2.1 billion transaction, McKesson acquired Rexall Health's 470 pharmacies. McKesson also agreed to sell 28 of the pharmacies as part of a consent agreement with Canada's Competition Bureau.

"Today's announcement marks a milestone for McKesson and Rexall Health," said McKesson CEO John Hammergren. "With complementary assets, industry expertise and shared values, we will now serve our customers with enhanced retail pharmacy capabilities and a broader reach across Canada."

In addition, McKesson named Domenic Pilla CEO of McKesson Canada. Effective Jan. 3, Mr. Pilla will take the helm from Jürgen Schreiber.

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