CVS Pharmacy acquires Red Cross Pharmacy’s 14 stores

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CVS Pharmacy acquires Red Cross Pharmacy’s 14 stores

By David Salazar - 04/25/2018
CVS Pharmacy is acquiring all 14 of the retail pharmacies operated by Marshall, Mo.-based Red Cross Pharmacy, effective June 6. CVS Pharmacy said that it would be transferring files from stores in Grain Valley and Kearney, with the remaining locations set to remain operating in the same locations with the same staff.

“All along, our mission has been to be the best employee-minded, patient-focused pharmacy service driven pharmacy organization,” Red Cross Pharmacy president and CEO Scott Hartwig said. “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.”

CVS Pharmacy said the acquisition would be completed in mid-July, with the locations rebranded and converted to CVS Pharmacy banners. It added that it expects to retain nearly all of the company’s 170 retail pharmacy employees.

“CVS Pharmacy looks forward to bringing its innovative pharmacy care programs and services to Red Cross Pharmacy patients in Missouri,” CVS Pharmacy region director Wayne Lum said. “We will continue to provide excellent care to patients and look forward to introducing our industry-leading offerings at these new locations.”

With Red Cross Pharmacy’s retail pharmacy operations sold, the company is left with two long-term care pharmacies and a medical equipment company.