Industry Updates: Drug Stores and HBC Chains – April 2015

Personnel Updates

Diplomat Pharmacy announced the addition of Shannon Beltrand to their senior leadership team as Chief Information Security Officer.

The Little Clinic announced the appointment of Marc Watkins as VP and Corporate Medical Director.

Rexall has named Erik Botines as its new VP Pharmacy.

Rite Aid Corp. announced that Steve Rempel has been named Senior VP and CIO.

Financial Focus

Rite Aid Corporation reported $26.5 billion in revenues, representing a lift of 3.9%, and net income of $2.1 billion for the fiscal year ended Feb. 28.

Mergers and Acquisitions

Fred’s Super Dollar announced that it has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in Nashville, TN. The acquisition includes both EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast serviced from facilities in Spring Hill, TN, and Columbus, MS, as well as the single Reeves-Sain retail pharmacy in Murfreesboro, TN.

Cardinal Health acquired Metro Medical, the largest independent specialty distributor.

Industry Insight

Walgreens Boots Alliance announced it will close about 200 U.S. stores by 2017 as part of its previously announced cost-reduction plan.

Real Estate

The Little Clinic has expanded its footprint with two additional clinic locations. On March 20, The Little Clinic opened its new clinic inside Kroger in Carrollton, GA. In addition, the clinic operator expanded its clinic location inside King Soopers in Denver, CO.

Pharmaca Integrative Pharmacy will open its 30th store, in Los Altos, CA, on May 2.  Pharmaca has plans to open an additional location in Colorado mid to late 2015.