CVS Health says it is selling all 22 of its retail drugstores in Puerto Rico
CVS Health says it has reached a deal to sell its retail drugstores in Puerto Rico to Caribe Pharmacy Holdings
By AP News
Published - Feb 05, 2024, 04:15 PM ET
Last Updated - Feb 05, 2024, 04:45 PM EST
SAN JUAN, Puerto Rico (AP) — CVS Health said Monday that it has reached an agreement to sell its retail drugstores in Puerto Rico to Caribe Pharmacy Holdings.
In an email to The Associated Press, CVS Health said the deal involving 22 of its pharmacies would be completed in April and that the buyer plans to continue all operations and retain all employees.
A spokeswoman said the company is not releasing financial details of the transaction. The purchaser, Caribe Pharmacy Holdings, owns Farmacias Caridad.
The company said its decision to leave the U.S. territory “was based on multiple factors, including local market dynamics and population shifts.”
