On November 1, 2021 McKesson Corporation (NYSE: MCK) reported that it has entered into an agreement to sell its UK businesses to AURELIUS, a pan-European asset management group with offices in Munich, London, Stockholm, Madrid, Amsterdam, Milan and Luxembourg (Press release, McKesson, NOV 1, 2021, View Source [SID1234594056]). The transaction includes the sale of McKesson UK businesses LloydsPharmacy, LloydsDirect (previously Echo by LloydsPharmacy), AAH Pharmaceuticals, LloydsPharmacy Clinical Homecare, LloydsPharmacy Online Doctor, MASTA and John Bell & Croyden. The transaction is expected to close in fiscal 2022, subject to customary closing conditions, including receipt of required regulatory approvals.
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The agreement, which follows McKesson’s recently announced sale of certain European businesses, is another important step in advancing McKesson’s commitment to streamline the business and fully exit the European region.
"We are extremely proud of the role that our business has played to advance better healthcare in the UK, and especially the work during the pandemic to ensure that patients continue to have access to needed medicines and to assist the NHS with the distribution and administration of COVID-19 vaccines," said Brian Tyler, chief executive officer, McKesson. "As we explore strategic options to fully exit Europe, this transaction provides our UK operation with the best path forward to achieve its long-term growth potential, while allowing McKesson to focus future investments in strategic growth areas outside of Europe."
AURELIUS expects to support McKesson UK by further investing in and growing each of its business divisions. The pan-European multi-asset manager has a proven track record and focus on operational excellence and shares McKesson’s deep commitment to serving its customers.