Owens Healthcare, a pharmacy based in Northern California, will sell 12 retail pharmacies to CVS, according to local news station KRCR.
CVS plans to maintain operations at five of the Owens locations; five other retail pharmacies will be closed. CVS is working to sell the remaining two Owens retail pharmacies to Rite Aid.
The transaction is expected to close by the end of September.
Owens will continue to operate its long-term care pharmacy, compounding pharmacy, infusion services and medical equipment services.
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