PHILADELPHIA — Rite Aid Corporation has completed the previously announced sale of its Elixir Solutions business to MedImpact Healthcare Systems for approximately $576.5 million.

“We are pleased to finalize the sale of Elixir, marking another important milestone in our transformation to strengthen our long-term financial position,” said Jeffrey Stein, Rite Aid’s CEO and chief restructuring officer. “We believe this transaction is a great outcome for Rite Aid and our stakeholders, including our Elixir colleagues and the customers, clients and members they serve. Importantly, this divestiture will better position Rite Aid for long-term success as we continue to evolve our portfolio to focus on the healthcare products, services and solutions that are core to our future.”

Rite Aid provides leading healthcare products and services to its customers every day as it continues to make progress in its court-supervised restructuring process and implement its go-forward business plan, Rite Aid 2.0.