Walgreen (NYSE:WAG) said late yesterday it has agreed to acquire ApothecaryRx pharmacies from Graymark Healthcare (NASDAQ:GRMH).
The acquisition of Graymark’s pharmacy unit includes 18 stores located in Colorado, Oklahoma, Minnesota, Missouri and Illinois. Walgreen said it has a history of services in these markets, and it plans to make the transition for pharmacy customers as seamless as possible.
Graymark said the divestiture of the pharmacy unit will allow it to focus on its sleep apnea business.
Terms of the deal were not disclosed, but Graymark said it expects to realize a total enterprise value of $35 million from the sale.
The transaction is expected to close in the fourth quarter.
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