Industry Updates: Drug Stores and HBC Chains – November 2013

Personnel Updates:

CVS Caremark announced the appointment of William Shrank as Chief Scientific Officer and Chief Medical Officer, provider innovation and analytics.

CVS Caremark appointed Tracy Bahl as Exec VP health plans. Mr. Bahl joins CVS from the global equity investment firm General Atlantic, where he served as a special adviser to the healthcare team.

McKesson Health Solutions announced that Ian Gordon, former president and CEO of Topaz Shared Services, has joined the company’s executive team as Senior VP and General Manager for Decision Management

Walgreens announced the appointment of Sona Chawla, President of e-commerce, as President of Digital and Chief Marketing Officer. In this new role, Chawla will lead a newly created Digital and Marketing Division, establishing a unified and integrated digital, enterprise-wide marketing, and customer loyalty and insights group to advance Walgreens “Well Experience” strategy and vision to be the first choice in health and daily living in the United States and beyond, Walgreens stated.

Also, Forty-three year veteran Steve Lubin, Walgreens Divisional VP and General Manager Marketing for non-mainland operations, announced his retirement.

Industry Insight:

C&K Market is selling its 15 pharmacies as part of an effort to focus on its core supermarket business.

Kroger’s subsidiary, The Little Clinic, and the University of Cincinnati’s UC Health will team up on a patient-sharing program at 18 clinics in the Cincinnati and Dayton, OH areas. The partnership offers UC Health patients access to medical care for common illnesses, minor injuries or vaccinations

Mergers and Acquisitions:

Astrup Drug, headquartered in Austin, MN plans to acquire two independent pharmacies and grow its store count to 12.

Ritzman Pharmacies and Mast Pharmacies announced the completed acquisition of all Mast-owned pharmacies to Ritzman Pharmacies.

Walgreen Co. announced that it has completed its acquisition of certain assets of Kerr Drug’s retail drugstores and specialty pharmacy business. Financial terms of the agreement were not disclosed.

Real Estate:

MinuteClinic, a division of CVS Caremark Corporation and the largest provider of retail medical clinics in the United States, announced today that it has filed applications with the Rhode Island Department of Health to open several locations in its home state of Rhode Island in 2014. The proposed clinics will be inside select CVS/pharmacy stores in Woonsocket, Cranston, North Smithfield, East Greenwich, Providence, Wakefield and Westerly. 

Green Initiatives:

Walgreens announced the official opening of what is believed to be the nation’s first net zero energy retail store, anticipated to produce energy equal to or greater than it consumes. It features two wind turbines, nearly 850 solar panels and a geothermal system burrowed 550 feet into the ground.