Rite Aid announced that the U.S. Bankruptcy Court for the District of New Jersey has approved the sale of its elixir solutions business unit to MedImpact Healthcare Systems. Rite Aid filed for Chapter 11 bankruptcy protection in Oct. 2023. The transaction, announced Jan. 9, is expected to close in the first quarter of 2024. Camp Hill, Pennsylvania-based Rite Aid was advised by a Kirkland & Ellis team. Counsel information for MedImpact Healthcare, which is based in San Diego, was not immediately available.
Retail & Consumer Goods
January 10, 2024, 12:13 PM