Personnel Updates:
CVS Caremark has confirmed that Stuart McGuigan, Senior VP and CIO, resigned from the company, effective 4-13-2012. Also, CVS Caremark outlined succession plans for its pharmacy benefit management business as Exec VP and COO Jon Roberts will assume the role of president of the PBM business, effective Sept. 1, 2012.
Financial Focus:
Rite Aid Inc. reported fiscal 2011 sales of $26.12 billion.
Industry Insight:
Brown’s Super Stores Inc. is looking to add 15 convenient-care clinics into supermarkets in the Philadelphiaregion. The chain operates 10 ShopRite supermarkets in and around Philadelphia
CVS/pharmacy is shuttering all of its Beauty360 locations and ceasing operation of the Beauty360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.
Walgreens announced that it will use Surescripts’ Clinical Interoperability services to electronically deliver patient data directly to primary care providers to improve the coordination of care. In the coming months, all of the 7,800 Walgreens and Duane Reade pharmacies and 350 Take Care Clinics nationwide will use the Surescripts network to deliver immunization records to the patient’s primary care provider.
Mergers and Acquisitions:
CVS will take over C’s Discount Pharmacy for an undisclosed amount of money. C’s operates two locations in Metairie. The pharmacy was founded in 1987 by Felix Ciolino and his son, Steve. Felix Ciolino died in 2003.
Loblaw Cos. has announced it is purchasing a majority of Zellers’— a mass merchandise chain of the Hudson’s Bay Co. — prescription files for about $35 million.
McKesson announced that it has completed the previously announced acquisition of the independent banner and franchise businesses of Katz Group Canada in an all-cash transaction that closed March 25th 2012.
Rite Aid announced for the upcoming fiscal year capital expenditures are expected to be approximately $300 million, which includes increasing the number of wellness store remodels and prescription file buys.
