World News – US – Rite Aid buys Seattle drug chain Bartell

Rite Aid has announced that it will be buying Seattle drugstore chain Bartell Drugs for $ 95 million, the company said [] October 7, 2020 In this photo, a sign outside a Rite Aid informing them of the drive-thru tests on April 21, 2020 in Macomb, Michigan Photo by Gregory Shamus / Getty Images)

Rite Aid has announced it will pay $ 95 million to buy Bartell Drugs, a Seattle-based family drugstore chain with 67 pharmacies

Founded in 1890, Bartell Drugs generates over $ 550 million in annual revenue and fills approximately 55 million prescriptions each year at its 67 Seattle stores and area stores in King, Snohomish and Pierce counties Washington State Rite Aid has more than 2,400 retail pharmacies in 18 states, including the Pacific Northwest

The purchase agreement for a regional drugstore chain is part of Rite Aid’s efforts to compete with mid-sized businesses and employers looking to purchase pharmacy and healthcare services as well as drug benefits through its pharmacy benefits management company, elixir Rite Aid, which will retain the Bartell Drugs name on the stores it purchases, said the mid-market niche allows it to compete more effectively rather than take on nationwide with CVS Health, Walgreens Boots Alliance and Walmart Pharmacies

For over a century, Bartell has been an integral part of the fabric of Seattle and neighboring communities serving families with pharmacy services while promoting the health and well-being of local communities, a ??? ? Heyward Donigan, president and CEO of Rite Aid, said in a statement Wednesday announcing the acquisition

The future of Rite Aid’s elixir comes as rival PBMs expand and competition grows fierce In December, Cigna’s Express Scripts PBM and Prime Therapeutics, a PBM owned by 18 Blue Cross Blue Shield companies, announced a three-year collaborationMeanwhile, Anthem is rolling out its own PBM, IngenioRx, and the nation’s largest health insurer, UnitedHealth Group, owns OptumRx CVS Health, owner of Caremark PBM, also has more influence after buying health insurer Aetna in late 2018

The acquisition of Bartell fits perfectly into and accelerates our RxEvolution strategy, as our companies share a commitment to total health and wellness, the importance of the pharmacist as a trusted health advisor and the critical role of the neighborhood pharmacy, â ???? Donigan said The expansion into the growing Seattle area will allow Rite Aid to better serve clients, health plans and health care providers.

George D Bartell, President of Bartell Drugs, said Rite Aid’s vision for the amalgamated company is well aligned with what we believe will best meet the needs of our customers.at ????

Rite Aid said, « Transaction is expected to increase Rite Aid’s adjusted earnings per share after first 12 months » after the conclusion of the agreement at the end of the 2021 financial year of the pharmacy chain

I’ve been writing about health care for three decades, starting in my native Iowa where I covered Bill and Hillary Clinton’s presidential campaign bus rides across the

I’ve been writing about health care for three decades, starting in my native Iowa where I covered Bill and Hillary Clinton’s presidential campaign bus rides through Hawkeye State, talking about health and economic reform I have covered the rise, fall and rise of healthcare reform, chronicling national trends as well as the influence of Barack and Michelle Obama on the South Side of Chicago on changes to the US healthcare system. from my base in Chicago I am the author of the book « Inside Obamacare » A Forbes Regular on Fox (2014-2018), you can see me occasionally nationally on Fox Business News In Chicago you can hear my health segments and commercial analysis on WBBM News Radio 780 and 1059 FM I have written for many media including The New York Times (2011-2013) and was a health reporter for the Chicago Tribune (1998- 2011) Prior to this I wrote for Modern Healthcare and several Iowa newspapers including the Des Moines Register I am active in education and teach at the University’s School of Journalism from Iowa, Masters Program in Strategic Communication I am passionate about health literacy l When it comes to explaining the complexity of health care A better understood health system can save money or save life

Bartell Drugs, Rite Aid Photo, Seattle