Rite Aid buys PBM EnvisionRx for $2 billion

Rite Aid buys PBM EnvisionRx for $2 billion

In a move widely seen as an opportunity for better competition with the other major drugstore chains, on February 11 Rite Aid Corp announced an agreement to buy the pharmacy benefits manager (PBM) EnvisionRx for about $2 billion. Rite Aid will pay the investment firm TPG about $1.8 billion in cash a...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Drug Topics 2015-03, Vol.159 (3), p.15
Hauptverfasser: Lowery, Mark, Walker, Tracey
Format: Magazinearticle
Sprache:eng
Schlagworte:
Acquisitions & mergers
Business growth
Drug stores
Drugstores
Horizontal integration
Mergers, acquisitions and divestments
Pharmacists
Pharmacy
Pharmacy benefit management
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:In a move widely seen as an opportunity for better competition with the other major drugstore chains, on February 11 Rite Aid Corp announced an agreement to buy the pharmacy benefits manager (PBM) EnvisionRx for about $2 billion. Rite Aid will pay the investment firm TPG about $1.8 billion in cash and $200 million in stock for the PBM. EnvisionRx provides pharmacy, specialty pharmacy, and mail-order services, and is expected to produce about $5 billion in revenues this year. EnvisionRx will operate as a wholly owned subsidiary of Rite Aid and will be led by Frank Sheehy, EnvisionRx's CEO.
ISSN:0012-6616
1937-8157