Red Cross Pharmacy to sell its retail pharmacies to CVS
MARSHALL, MO and WOONSOCKET, RI – Red Cross Pharmacy Inc., a top 50 drugstore chain and one of the oldest pharmacy businesses in the country, announced Tuesday, April 24, that it plans to sell its 14 retail pharmacies to CVS Pharmacy, the retail pharmacy business of CVS Health (NYSE:CVS), effective beginning June 6, 2018. The Company, which primarily services markets in northwest central Missouri, has two retail locations in Marshall, and one in Salisbury, Kearney, Excelsior Springs, Odessa, Warrensburg, Grain Valley, Macon, Fulton, Lexington, Plattsburg, Richmond, and Carrollton. CVS Pharmacy plans to operate in the same locations with the same staff in all markets except for Grain Valley and Kearney, where the files will be transferred to the closest CVS Pharmacy store.
CVS Pharmacy’s acquisition of Red Cross Pharmacy locations is expected to be completed mid-July, and the pharmacies will be converted and rebranded as CVS Pharmacy. The two companies are working closely together to ensure the transition will be seamless for customers and their access to pharmacy care is not interrupted. CVS Pharmacy also expects to retain nearly all of the 170 retail pharmacy employees.
“All along, our mission has been to be the best employee-minded, patient-focused pharmacy service driven pharmacy organization. While I believe we have done a great job in accomplishing this, it has become increasingly difficult to provide quality pharmacy care under the current payment model. It is time to pass our retail business to a company with more resources that can take it to the next level of care,” said Scott Hartwig, president and CEO of Red Cross Pharmacy.
“While change is always difficult, our retail employees will benefit from maintaining their jobs and having a competitive benefits package. Customers and patients will benefit from having a wider range of products and services available and continued pharmacy care from familiar faces. It should be a win-win for both.”
Hartwig added, “It has been an honor and a pleasure for our family to serve your family. Thank you for your business and your tremendous support. We wish everyone great health and prosperity going forward.”
“CVS Pharmacy looks forward to bringing its innovative pharmacy care programs and services to Red Cross Pharmacy patients in Missouri,” said Wayne Lum, Region Director, CVS Pharmacy. “We will continue to provide excellent care to patients and look forward to introducing our industry-leading offerings at these new locations.”
CVS Pharmacy offers unique clinical pharmacy services, medication adherence programs, automatic refills to help patients take their medications on time and as directed, immunizations, text alerts to inform patients when their prescriptions are ready, and digital tools to help patients manage their prescriptions.