McKesson to sell 28 stores to win Competition Bureau approval for Rexall deal

U.S. health-care company McKesson has agreed to sell 28 drugstores

OTTAWA — U.S. health-care company McKesson has agreed to sell 28 drugstores to win approval from the Competition Bureau for its deal to buy the Rexall Health pharmacy chain.

The Canadian regulator says the proposed $3-billion acquisition of Rexall would “likely result in a substantial lessening or prevention of competition” if it was allowed to go ahead as originally planned.

Under a consent agreement with the Competition Bureau, McKesson will also restrict the exchange of “commercially sensitive information” between its wholesale and Rexall retail business in order to preserve competition at the retail level.

The locations pegged for sale are located in small communities in Ontario, Alberta, Saskatchewan, B.C. and the Northwest Territories.

Last March, Calgary-based Katz Group announced that it was selling its 470 Rexall retail pharmacies to McKesson, a company it has worked closely with for 20 years.

In 2012, McKesson acquired Katz’s independent outlets and franchise businesses — primarily operating as I.D.A. and Guardian — for about $920 million. The San Francisco-based McKesson is the largest wholesaler of pharmaceutical products in Canada.

Just Posted

Red Deer realtors share precautions in aftermath of Calgary sex assault

“Safety is a huge issue,” says local realtor

Man charged after string of break and enters

Break-ins occurred at rural properties

Updated: Red Deer Mountie’s sexual assault trial begins

RCMP officer facing sexual assault with a weapon and breach of trust charges

Central Albertans invited to bring concerns to air quality meeting

Parkland Airshed Managment Zone holds public meeting June 25

WATCH: Hundreds run in the 5K Foam Fest in Red Deer

The annual event took place at Heritage Ranch on Saturday

Italy’s Milan-Cortina wins vote to host 2026 Winter Olympics

LAUSANNE, Switzerland — Riding a wave of widespread Italian enthusiasm to be… Continue reading

Productivity gains outpace steep rise in agricultural energy use since 1990

CALGARY — Third-generation farmer Ron Lamb remembers his father pulling six-metre-wide crop-seeding… Continue reading

Health: Believing myths is bad for your heart

George Orwell, the English journalist, wrote, “Myths that are believed in tend… Continue reading

Family: We all get by with just a little help from our friends

The celebration of our great country of Canada is waiting in the… Continue reading

Cavallini, David scores 3 goals, Canada defeats Cuba 7-0

CHARLOTTE, N.C. — Coach John Herdman couldn’t be happier about the state… Continue reading

Toronto Raptors coach Nick Nurse lands same job with Canada’s men’s team

Toronto Raptors head coach Nick Nurse is the new coach of Canada’s… Continue reading

Steamy romance novelist Judith Krantz dies at 91

LOS ANGELES — Writer Judith Krantz, whose million-selling novels such as “Scruples”… Continue reading

Flying Wallendas safely cross Times Square on high wire

NEW YORK — Two siblings from the famed Flying Wallendas safely crossed… Continue reading

Most Read