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CVS Health is selling all 22 of its retail drugstores in Puerto Rico

A sign marks the location of a CVS pharmacy May 5, 2004 in Chicago, Illinois. (Photo by Scott Olson/Getty Images)

SAN JUAN, Puerto Rico (AP) — CVS Health says it has reached a deal to sell its retail drugstores in Puerto Rico to Caribe Pharmacy Holdings.

CVS Health said in an email to The Associated Press on Monday that 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 the cost of the transaction. The purchaser, Caribe Pharmacy Holdings, owns Farmacias Caridad. CVS Health announced in November 2021 that it would close hundreds of stores over the next three years.