* Financial terms not disclosed
* Axium specializes in complex and chronic conditions
LOS ANGELES Nov 15 Supermarket operator Kroger
Co said on Thursday it will buy Axium Pharmacy Holdings
Inc, a pharmacy services provider specializing in complex and
chronic medical conditions such as cancer, as part of its growth
Kroger, the largest U.S. supermarket operator, said it would
acquire the outstanding shares of privately held Axium.
Financial terms were not disclosed.
Lake Mary, Florida-based Axium will give Kroger
"significantly enhanced capabilities to serve customers who
require complex drug therapies, and to deliver those therapies
at greater value to customers and insurance payers," the company
"Kroger and Axium are a strategic fit as we look to enter
the high-growth specialty pharmacy business," Lincoln Lutz,
Kroger's vice president of corporate pharmacy, said in a
Kroger operates supermarkets such as Ralphs, Fred Meyer,
Smith's and Food 4 Less. It has 1,950 pharmacy locations and 91
Little Clinic locations.
Axium will operate as an independent company within Kroger.
Shares in Kroger, which had no prior ownership interest in
Axium, were down 0.3 percent at $24.41 in midday trading on the
New York Stock Exchange.