Drugstore chain Walgreen Co. (WAG) said Monday it has agreed to acquire the prescription files and inventory from 33 Kmart pharmacies in 16 states. Financial terms of the deal were not disclosed. The company expects to close the transaction in February.
Deerfield, Illinois-based Walgreen said it will buy the pharmacy patient files and transfer them to nearby Walgreens pharmacies.
The company said patients whose prescription files are being transferred and who have had a prescription filled within the last two years will be notified once the transaction closes.
Walgreens said it recently closed the acquisition of the first pharmacy's prescription files and inventory in Rice Lake, Wisconsin.
Acquisition of the other Kmart prescription files and inventory is subject to certain customary terms and conditions and is anticipated to happen throughout February, it noted.
"We are pleased to maintain convenient access to high quality pharmacy and health and wellness services for Kmart patients from these pharmacies," said David Lovejoy, Walgreens vice president of pharmacy services.
"We are working with Kmart to make this transition as seamless as possible and quickly introduce our new customers to the expanded health and wellness services that have helped build Walgreens reputation for patient care."
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