Troutman Pepper Hamilton Sanders LLP issued the following announcement on Oct. 8.
Troutman Pepper recently counseled Rite Aid (NYSE: RAD) in its acquisition of Bartell Drugs. This acquisition doubles Rite Aid’s script share and creates the largest pharmacy presence in the Seattle region. Read a company press release about the acquisition.
The transaction is expected to be completed in December 2020, pending regulatory approvals. Rite Aid will add Bartell’s 67 stores in Seattle and throughout King, Snohomish and Pierce Countries in Washington state, which generate over $550 million in revenue and fill approximately 5.5 million scripts annually, to its existing 69 Seattle-area stores. Bartell stores will continue to operate under the Bartell name.
Troutman Pepper’s John Jones, Solomon Hunter, Mat Saykiewicz, Tom Cole, Jeremy Frey, Yale Bohn, Joe Harrington and Doug Menikheim counseled Rite Aid in the deal. This transaction continues expanding the firm’s Health Care Transactions M&A footprint in the Pacific Northwest. Last year, the team counseled on one of the largest institutional pharmacy sales in the region.
Health sciences is a core practice at Troutman Pepper. The firm has more than 150 attorneys who represent clients such as innovative biotech, pharmaceutical and medical device developers and manufacturers; physicians, hospitals and other health care providers; health insurers and other payors; and a wide range of members of the health care supply chain.
Original source can be found here.