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March 2 (Reuters) - Drug distributor McKesson Corp said it would buy Rexall Health from Katz Group for C$3 billion ($2.23 billion) to strengthen its position in Canada's pharmaceutical supply chain.
As part of the transaction, McKesson intends to buy Rexall Health's business, including about 470 retail pharmacies, McKesson said.
The acquisition, which will be funded by a mix of cash and debt, is expected to close later this year. ($1 = C$1.35) (Reporting by Natalie Grover in Bengaluru; Editing by Shounak Dasgupta)