Reported 8 months ago
Rite Aid Corp. has emerged victorious in a legal battle against MedImpact Healthcare Systems Inc. over more than $200 million in additional costs related to the acquisition of pharmacy benefit manager Elixir. Judge Michael Kaplan ruled in New Jersey bankruptcy court that MedImpact is responsible for the disputed liabilities, saving Rite Aid from unexpected expenses as it strives to exit Chapter 11 bankruptcy protection. The ruling safeguards Rite Aid from bearing the burden of unpaid reimbursements owed to CVS Health Corp., Walgreens Boots Alliance Inc., and Walmart Inc., highlighting the importance of thorough deal assessments in corporate transactions.
Source: YAHOO