Rite Aid selling pharmacy operations to CVS, Walgreens and others

[BumRushDaShow]

Source: Scripps News

Posted 11:23 AM, May 16, 2025


Rite Aid, which filed for bankruptcy earlier this month, is selling the pharmacy operations at more than 1,000 of its stores to major chains including CVS, Walgreens, Albertsons, Kroger and Giant Eagle.

The company said its stores will remain open during the transition, and customers can continue to fill prescriptions and get immunizations without interruption. Pharmacy services will gradually shift to the new operators, while some locations — particularly in Washington, Oregon and Idaho — will be fully taken over and operated by CVS Pharmacy.

“A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption,” said Rite Aid CEO Matt Schroeder. “These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.”

The sales are subject to approval by a U.S. bankruptcy court. The deals must also clear regulatory reviews and meet other standard closing conditions.

Read more: https://www.scrippsnews.com/business/company-news/rite-aid-selling-pharmacy-operations-to-cvs-walgreens-and-others

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Don't know what will happen with mine. There are already a couple CVSs within a 3 mile radius but just one Walgreens (used to be 2 but they closed the other one some time ago and even bowled the building down).

[PatSeg]

1. We are in the process of transferring our prescriptions to CVS

We used CVS for several years before switching to Rite Aid. The switch at the time was only because Rite Aid was in a more convenient location.

[DENVERPOPS]

2. Rumor has it

That Walgreens had sold out to a Hedge Fund.......(pretty much a kiss of death to any Corporation taken over by a hedge fund?????)

[taxi]

5. It's not a rumor.

This happened back in March.

WBA shareholders will receive total consideration consisting of $11.45 per share in cash at closing of the Sycamore transaction (the “Cash Consideration”) and one non-transferable right (a “Divested Asset Proceed Right” or “DAP Right”) to receive up to $3.00 in cash per WBA share (together with the Cash Consideration, the “Total Consideration”) from the future monetization of WBA’s debt and equity interests in VillageMD, which includes the Village Medical, Summit Health and CityMD businesses (such businesses, “Divested Assets”). The Cash Consideration represents a premium of 29%, and the Total Consideration represents a premium of up to 63%, to the WBA closing share price of $8.85 on December 9, 2024, the day prior to the first media reports regarding a potential transaction. Additional information about the future monetization of the Divested Assets and the DAP Rights is included below and a supplemental presentation can be found on the WBA investor relations website at investor.walgreensbootsalliance.com.

https://investor.walgreensbootsalliance.com/news-releases/news-release-details/walgreens-boots-alliance-enters-definitive-agreement-be-acquired

[DENVERPOPS]

6. THANK YOU TAXI

For telling us in such great detail..........I get the Big picture, but thank you for filling me (us) on the details...............

The CEO over the past number of years made zillions in bonuses along with all the other top execs for selling complete Rx records on everyone who had an Rx at Walgreens.......Name, address, phones, SSI number, Medicare ID number, etc etc etc.
Obviously criminal to sell them to anyone who wanted the info. The Feds caught him and fined him a hand slap amount, he kept on doing it for Billions in Revenue, so they fined him like six million, he kept right on doing it, they again filed him a small amount compared to what he was making in Revenue. He even laughed at someone, saying: "We make a ton each time, pay a relatively small fine each time, no one get's prosecuted, and oh, by the way, the fine is a corporate tax deductible expense...."

[Auggie]

3. Every CVS I've been in has been a dump ...

shelves disorderly, understocked, carpet floors never vacuumed, tile floors dirty and scuffed, bad smell, under staffed, long waits ...

I actually PAID MORE for my Plan D so I could go to Rite-Aid.

Shit.

[samplegirl]

4. I work for years at RIte Aid

We had a store manager he lived trump!
We were one of the few non union Rite Aids!

He was a racist piece of shit! H always smeeledmlike alcohol. Hope he's drinking himself to death!

He hated me because I liked Obama!

[Oopsie Daisy]

7. Will the old RiteAid stores become CVS and Walgreens locations?

Or will they simply transfer their prescriptions to another existing location... and close the neighborhood store? I think this will mean fewer locations and interrupted service and care (regardless of Mr. Schroeder says).

“A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption,” said Rite Aid CEO Matt Schroeder. “These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.”

[GiqueCee]

8. This whole situation reeks...

... of the stench of private equity. In true corporate fashion, Rite Aid over-extended itself with expansions that it lacked the infrastructure and resources to manage effectively. The fatal quest for endless and unlimited growth, no matter the cost, has been the death of more companies that we can count. They never learn. Then the vulture capitalists smell blood and swoop in for the kill.
The staff at our local Rite Aid has always been courteous, helpful, and friendly. They know me by name, and I know theirs. It pains me to see them victimized by corporate gamesmanship that couldn't care less about the adverse effects their actions have on the people who worked tirelessly to accommodate their customers and keep the business running smoothly.
After Rite Aid's first bankruptcy, the shelves were never again fully stocked, and now we're told that certain prescriptions will no longer be filled. We have, with some regret for the fate of those loyal Rite Aid associates, switched pharmacies to one that is fully employee-owned, and thus, hopefully, insulated from the malicious depredations of hedge funds and private equity.

[JoseBalow]

9. The CVS I go to keeps getting worse and worse

Reduced hours, closed weekends, understaffed... the place is a dump.