CVS Pharmacy acquires 110 Schnucks pharmacies, with 11 to close
Category: #business  By Anchal Solanki  Date: 2020-03-11
  • share
  • Twitter
  • Facebook
  • LinkedIn
CVS Pharmacy acquires 110 Schnucks pharmacies, with 11 to close

CVS Pharmacy, a subsidiary of CVS Health, has recently announced the acquisition of 110 Schnucks pharmacies, which will lead to the closure of 11 Schnuck Markets’ pharmacies. The acquisition has been arranged in a way that 99 pharmacies based in St. Louis, MO will come under the operation of CVS Pharmacy & its subsidiaries and be rebranded as CVS Pharmacy, which is similar to that of the CVS-Target acquisition arrangement. The company will transfer the prescription files acquired from eleven Schnucks’ pharmacies to its nearby locations.

The partnership will offer several lucrative growth opportunities to CVS health by expanding in key business areas. Sources familiar with the matter expect the acquisition transaction to be closed by Q2 end of 2020.

Drugstore chain CVS has reportedly revealed that its subsidiary company will interview all Schnucks’ employees who apply for pharmacist & pharmacy tech positions. Changes in-store will be rolled out after the completion of the transaction, over the course of a few months, as these two companies are targeting the smoothest transition possible, for all pharmacy patients.

According to CVS Health’s executive vice president & chief operating officer, Jon Roberts, the company’s strategy clearly aligns with Schnucks’ focus on offering high-quality care to customers. It will open CVS Pharmacy locations within the Schnucks stores to fulfill CVS Health’s imperative to ‘Be Local’.

As per Todd Schnuck, Schnucks’ chairman and CEO, with Schnucks’ high emphasis on health and wellness, the acquisition will assist the company in delivering quality clinical services to customers. He further added that the partnership will enable the delivery of quality pharmacy services to customers through the network of premier retail pharmacy chain, as these two companies share the common focus of ensuring customers’ health & wellness.

Additionally, specialty pharmacy patients of Schnucks can gain access to CVS Specialty’s expertise in the field of ongoing disease education, benefits verification, counseling, adherence management, comprehensive patient education, as well as care coordination with several healthcare providers.

Source credit:

https://www.drugtopics.com/latest/cvs-pharmacy-acquires-schnucks-pharmacies-11-will-close

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

Read More >>

More News By Anchal Solanki

EstrellaTV offers free access to all DIRECTV and U-verse TV users
EstrellaTV offers free access to all DIRECTV and U-verse TV users
By Anchal Solanki

While numerous businesses are struggling to make ends meet during the COVID-19 crisis, some businesses like Estrella Media are taking striding steps to ease the life of those living in self-quarantine or isolation. The U.S.-based media company that ...

Medica donates US$1M to meet health needs during COVID-19 pandemic
Medica donates US$1M to meet health needs during COVID-19 pandemic
By Anchal Solanki

Minnesota based non-profit charitable grant-making foundation, Medica has reportedly announced that the it will donate US$1 million towards emergency funds across 18 Minnesota based NPOs that play a vital role in meeting the health demands of vulnera...

ThoughtSpot, Google Cloud to extend partnership on AI-driven analytics
ThoughtSpot, Google Cloud to extend partnership on AI-driven analytics
By Anchal Solanki

The leader in search and AI-driven analytics, ThoughtSpot, recently announced the extending of its partnership with Google Cloud in a bid to empower organizations with cloud analytics solutions. A key part of this expanded relationship includes laun...