A&P is seeking approval to sell pharmacy assets for several of the stores it is immediately closing to Rite Aid in a transaction valued at $8.1 million, according to a Dow Jones report. According to the report, A&P on Thursday filed a report with U.S. Bankruptcy Court in White Plains, N.Y. noting that Rite Aid has agreed to buy the prescription files for 12 stores that are closing. “When a pharmacy is closing, the value of pharmacy related assets, particularly customer prescriptions, is unstable and the transactions must occur on an accelerated timeline to avoid permanent and significant diminution of value,” A&P said in its Thursday filing. Rite Aid is paying $5.7 million for the pharmacy records at 12 stores and up to $2.3 million for the inventory at those stores.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.