American retailer Kroger has completed the divestiture of its speciality pharmacy business to Elevance Health unit CarelonRx.  

The companies announced the deal on 18 March 2024. 

Kroger provided no specific reason for the sale, but it comes as the retailer focuses on completing a $25bn merger deal with Albertsons, currently under federal regulators’ scrutiny. 

In August 2024, Kroger reportedly prepared to issue up to $10bn in corporate bonds as it seeks to finance its proposed acquisition of Albertsons. 

The offloaded speciality pharmacy business has been providing care for patients with chronic illnesses that necessitate complex treatments. 

It offers a range of services including education, counselling, side effect management and financial assistance.  

The business caters to patients suffering from conditions such as rheumatoid arthritis, growth hormone deficiencies, multiple sclerosis and bleeding disorders. 

Kroger and Elevance Health have ensured minimal disruptions for both patients and associates.  

The deal does not include The Kroger gamily of pharmacies in-store retail locations and the Little Clinics. 

Despite the sale, Kroger anticipates no impact on its 2024 guidance.  

At the time of announcing the agreement, Kroger health president Colleen Lindholz stated: "As part of our regular review of assets, it became clear that our strong speciality 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. We are confident this transaction will help the business to grow and deliver better results for patients. We look forward to working toward a smooth transition for associates and patients."