Walgreens expands presence in Albuquerque market through acquisition of Lovelace Pharmacy

3/10/2015


ALBUQUERQUE, N.M. — Walgreens and Lovelace Retail Pharmacy on Monday announced that they have entered into a definitive agreement under which Walgreens will acquire Lovelace's 11 retail pharmacy locations in New Mexico.


 


“We look forward to expanding our presence in the Albuquerque and Santa Fe markets, and to working closely with Lovelace’s providers to serve their patients,” said Matt Sesto, Walgreens regional VP. “Our pharmacists are playing a critical role as part of patients’ care teams at hundreds of health system pharmacy locations across the U.S., helping to ensure continuity of care and improve patient outcomes.”


 


“We believe the opportunity to affiliate closely with Walgreens, with its strong history and respected national position, is a positive for our community,” Lovelace Retail Pharmacies CEO Brad Trom said. “Their strong reputation was a key consideration for us in agreeing to sell our pharmacies to Walgreens.”


 


Five of the Lovelace Pharmacy locations will be converted to Walgreens pharmacies upon close of the transaction. Current plans call for closure of the six remaining locations by April 8. The rebranded Walgreens are planned to temporarily close on May 15 and reopen as Walgreens on May 18. 


 


The acquisition does not include Lovelace’s hospitals, inpatient pharmacies, providers or clinics, the companies stated.


 

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