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CVS Pharmacy has acquired 63 former Rite Aid and Bartell Drugs stores in Idaho, Oregon and Washington.
Rite Aid has owned Seattle-based Bartell Drugs since 2020, according to The Oregonian.
CVS Pharmacy said it has also acquired the prescription files of 626 former Rite Aid and Bartell Drugs pharmacies in 15 states. Most CVS Pharmacy locations that received prescription files are located within three miles of an existing Rite Aid store and nearly half are within a mile, the company said.
CVS Pharmacy now serves more than 9 million former Rite Aid and Bartell Drugs patients. It has also hired more than 3,500 former Rite Aid and Bartell Drug employees. And it’s continuing to offer many of the local brands of the former Rite Aid stores and Bartell Drugs.
In addition, the company said it has invested in existing CVS Pharmacy locations, such as scheduling additional support, enhancing recruitment and hiring, and strengthening training programs.
WHY THIS MATTERS
CVS Health and Walgreens Boots Alliance top the list of the largest pharmacies in the United States.
CVS has an integrated model that includes health insurance through Aetna, including Medicare Advantage and Medicare Part D prescription drug plans.
While CVS grew to approximately 9,000 retail locations, 1,000 walk-in clinics and 87 million plan members as of June 30, the relatively smaller drug store chains of Rite Aid and Bartell Drugs suffered decreased foot traffic during the COVID-19 pandemic.
In 2024, Rite Aid agreed to a $410 million opioid settlement with the Department of Justice.
When it first filed for Chapter 11 bankruptcy in October 2023, Rite Aid received a commitment for $3.45 billion in new financing to implement a financial restructuring plan. The plan would significantly reduce the company's debt, Rite Aid said at the time, including from the more than 1,600 opioid lawsuits that had been a drain on its resources.
THE LARGER TREND
In May, Rite Aid filed for bankruptcy a second time as it sought a new buyer. At the time, Rite Aid said it was in the process of closing 164 of its 2,100 stores and would seek permission to close additional underperforming stores.
Rite Aid filed four notices of store closings. This month, it reportedly permanently shuttered all locations.
“All Rite Aid stores have now closed. We thank our loyal customers for their many years of support,” said a notice on the company website.
In May, the U.S. Bankruptcy Court for the District of New Jersey approved the sale of select Rite Aid assets to CVS Pharmacy.
ON THE RECORD
"We're excited to have completed the acquisition of select Rite Aid and Bartell Drugs stores in the Pacific Northwest, as well as the acquisition of prescription files of hundreds of Rite Aid and Bartell Drugs pharmacies across 15 states," said Len Shankman, executive vice president and president, Pharmacy and Consumer Wellness, CVS Health. "We're helping maintain and expand access to convenient and trusted pharmacy care across the U.S. and growing our retail footprint and presence in local communities. From our innovative pharmacy care programs to our exclusive store brand products, we look forward to showing Rite Aid and Bartell Drugs patients and customers all that CVS has to offer."
Email the writer: SMorse@himss.org
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