CVS Health Completes Acquisition of 63 Former Rite Aid & Bartell Drug Stores

The move will bring more than 9 million former Rite Aid and Bartell customers under CVS’s care, the company announced on Wednesday.

CVS Pharmacy has finalized its acquisition of 63 former Rite Aid and Bartell Drug stores across Idaho, Oregon, and Washington, along with prescription files for 626 additional Rite Aid and Bartell locations spanning 15 states.

The move will bring more than 9 million former Rite Aid and Bartell customers under CVS’s care, the company announced on Wednesday.

According to CVS, more than 3,500 former Rite Aid and Bartell Drug employees have joined its workforce to support ongoing operations and ensure continuity of services. CVS had secured court approval for the acquisition in May, shortly after Rite Aid filed for Chapter 11 bankruptcy protection and initiated the sale of its assets. The final transactions were completed on September 30.

“We’re excited to have completed the acquisition of select Rite Aid and Bartell Drugs stores in the Pacific Northwest, as well as the acquisition of prescription files of hundreds of Rite Aid and Bartell Drugs pharmacies across 15 states,” said Len Shankman, president of pharmacy and consumer wellness at CVS Health. “We’re helping maintain and expand access to convenient and trusted pharmacy care across the U.S. and growing our retail footprint and presence in local communities.”

“From our innovative pharmacy care programs to our exclusive store brand products, we look forward to showing Rite Aid and Bartell Drugs patients and customers all that CVS has to offer,” Shankman added.

Rite Aid, which filed for Chapter 11 protection for the second time in less than two years, confirmed earlier that it had reached agreements to sell over 1,000 stores to multiple competitors, including CVS Health and Walgreens. Grocers such as Albertsons, Kroger, and Giant Eagle have also placed bids to acquire certain Rite Aid assets.

“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, part of Rite Aid’s bankruptcy restructuring plan, were approved by courts in New Jersey. Rite Aid stated that customers would continue to access prescriptions and other services at existing locations throughout the process.

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