DEERFIELD, Ill.  – Walgreens Boots Alliance (WBA) and McKesson Corp. announced on Monday the completion of their previously announced agreement to create a joint venture combining their respective pharmaceutical wholesale businesses in Germany, Alliance Healthcare Deutschland (AHD) and GEHE Pharma Handel (GEHE). WBA holds a 70% controlling equity interest in the joint venture and McKesson holds the remaining 30% interest.

“At Walgreens Boots Alliance, we all look forward to working together with McKesson Corporation on this joint venture,” said Ornella Barra, co-chief operating officer, Walgreens Boots Alliance. “It is a very exciting step for our Pharmaceutical Wholesale Division and a unique chance for us to further develop innovative services to manufacturers and pharmacists in Germany.”

“The completion of this strategic partnership with Walgreens Boots Alliance enables us to strengthen and secure the future of pharmaceutical distribution in the German market,” said Kevin Kettler, chairman of the management board and president McKesson International. “Together, we look forward to delivering a successful model of operations to benefit the German healthcare ecosystem of patients, pharmacies and manufacturers.”

With future challenges in the healthcare sector, the new company is committed to strengthening the pharmacist’s position as a healthcare professional, creating innovative added value services and significantly enhancing digitalization and operational excellence.