On December 30, 2024, McKesson Corporation completed the sale of its Rexall Pharmacy Group and Well.ca businesses in Canada to Birch Hill Equity Partners.
The transaction involved the transfer of McKesson’s retail pharmacy chain, Rexall, and its online health and wellness platform, Well.ca, to Birch Hill Equity Partners, a leading Canadian private equity firm. The sale was part of McKesson’s strategic focus on its core pharmaceutical distribution and healthcare solutions businesses. The transaction is expected to enhance the growth and innovation of both Rexall and Well.ca under new ownership, while maintaining their Canadian operations and commitment to customer service.
Davies Ward Phillips & Vineberg LLP represented McKesson Corporation with a multidisciplinary team that included Jennifer Grossklaus, Jared Solinger, Adam Birnbaum and Jack Franklin (Corporate/Private M&A); Gilles Comeau, Diana Bahous and Bryan Yau (Banking); John Bodrug, Jim Dinning and Umang Khandelwal (Competition); Andrew Ellis and Taj Kudhail (Tax); Shari Cohen (Employment); Alexandria Pike and Zachary Silver (Environment); Sumeet Dang (IP/Privacy); Patrice Thomas and Vanessa Tsai (Real Estate).
Torys LLP represented Birch Hill with a team that includes Guy Berman, Zehra Sheerazi, Steven Slavens, Melissa Lowy, Danielle Marjoram and Mitchell Hayes (corporate/M&A), Omar Wakil (competition), Yolande Dufresne, Nicole Zeit and Yu Seon Gadsden-Chung (IP and drug regulatory) and Craig Maurice (tax).