Industry Updates: Drug Stores and HBC Chains – June 2014

Personnel Updates:

24 Hour Fitness announced that Mark Smith will join the company as CEO, and Frank Napolitano has been named President.

Cardinal Health announced that after a decade as CFO, Jeff Henderson will retire following the completion of fiscal year 2015.

GNC CFO Mike Nuzzo had resigned his position to accept a role at 4moms as Chief Administrative Officer and Exec VP of Business Development.

Gold’s Gym Southern California Franchise Group has appointed Paul Becker as its new CFO.

McKesson Canada announced Alain Champagne as its new President.

Planet Fitness, Newington, NH, has appointed Corey Benish as its Chief Information Officer.

Shopko announced that veteran pharmacy executive Michael Cantrell has joined the company as Senior VP, Retail Health. In this role, Cantrell will provide strategic direction for Shopko’s pharmacy, optical and Rx e departments.

Industry Insight:

Penn State Hershey Health System joined Rite Aid’s Health Alliance initiative.

Walmart opened its first healthcare clinic in Texas which will charge its employees $4 a visit if they are covered by Walmart’s health insurance and $40 for all other customers. Later this month it will open its second and third Walmart Care Clinic.

Mergers and Acquisitions:

Forstmann Little and Co. announced it has completed the sale of its four 24 Hour Fitness Worldwide Inc. clubs in New York City, to AEA Investors and the Ontario Teachers’ Pension Plan, Toronto.

Gold’s Gym announced its acquisition of Aspen Athletic Clubs in Midwest.

Vitamin Shoppe Inc. has purchased FDC Vitamins LLC, also known as Nutri-Force Nutrition, from MBF Healthcare Partners L.P. and other minority holders.