Industry Updates: Drug Stores and HBC Chains – June 2015

Personnel Updates

The Katz Group Canada Ltd. announced Sharon Driscoll, CFO, will be leaving the company. The company also announced the appointment of Jürgen Schreiber as CEO of Rexall Health. Mr. Schreiber will join the company in August.

Ricky’s NYC announced its founder, Ricky Kenig, has left the company to start a new beauty venture.

Walgreens Boots Alliance announced that Tim Theriault, Exec VP, CIO has stepped down. Anthony Roberts will now assume the role of Walgreens Boots Alliance Senior VP, CIO.

Mergers and Acquisitions

CVS Health has entered an agreement to acquire Omnicare, a provider of pharmacy services to long-term care facilities. The deal includes all 160 locations.

CVS Health will secure 80 retail clinic locations as part of the Target pharmacy acquisition. Target will rebrand its nearly 80 medical clinic with CVS’s MinuteClinic banner. It will also build another 20 clinics in stores, expecting to operate 1,500 by 2017.

Industry Insight

CVS Health is launching a Hispanic-focused rebranding of some of its stores in South Florida, an initiative that the retailer hopes to eventually roll out nationally. The new and remodeled stores are called CVS/pharmacy y mas. Twelve CVS/pharmacy y mas stores are now open in South Florida, including 11 remodeled CVS stores and one brand new store.

Real Estate

AmerisourceBergen Corporation announced plans to build three new distribution centers in Olive Branch, MS, Shakopee, MN, and Newburgh, NY. Construction on the new facilities is expected to start in the summer of 2015 and will take from 18-24 months to complete.

Technology News

Walgreens launched its app for Apple Watch that helps keep patients adherent to their medication regimens.