MEMPHIS — Fred’s Inc. has reported that CVS Health is purchasing its specialty pharmacy business EntrustRx for $40 million. The general merchandise and pharmacy store announced yesterday afternoon that it had reached a definitive agreement to sell certain assets of its specialty pharmacy unit — EntrustRx — to CVS Health for $40 million “plus an
MEMPHIS, Tenn. — Fred’s Inc.’s specialty pharmacy unit Eiris Health Services has adopted the name EntrustRx, the specialty pharmacy business that the retailer acquired last year. Licensed in all 50 states, EntrustRx dispenses specialty drugs to treat complex conditions and diseases that typically require ongoing or long-term support. Its main therapy lines include hepatitis C,
MEMPHIS, Tenn. — The same day that Fred’s Inc. reported fiscal 2015 results, the pharmacy and discount store retailer named a new chairman. Fred’s said Wednesday that Michael Hayes, 74, is slated to step down as chairman of the board of directors on April 15, to be succeeded by director Thomas Tashjian, 61. Hayes will
MEMPHIS, Tenn. — Fred’s Inc. has retained global management consulting firm A.T. Kearney to help the retailer grow its pharmacy business. In reporting June sales on Thursday, the discount store chain noted that its expanded specialty pharmacy operation were a key driver of revenue growth for the month. The company in April closed a $66
MEMPHIS, Tenn. — Fred’s Inc. has wrapped up its acquisition of Reeves-Sain Drug Store Inc., including its EntrustRx specialty pharmacy. Under the $66 million deal, announced in late March, Fred’s acquired Reeves-Sain Drug Store’s EntrustRx specialty pharmacy operation, which has facilities in Spring Hill, Tenn., and Columbus, Miss., and the single Reeves-Sain retail pharmacy in
MEMPHIS — Fred’s Inc. has bolstered its executive team with three major appointments while strengthening its specialty pharmacy presence with an acquisition. The regional discount store and pharmacy operator has named Bryan Pugh chief merchandising and marketing officer. Pugh most recently was chief merchandising officer for Walgreen Co., where he served for six years in
MEMPHIS, Tenn. — Fred’s Inc. plans to acquire specialty pharmacy EntrustRx as part of a $66 million deal. The Southeastern discount store chain said Wednesday that it will buy Reeves-Sain Drug Store Inc., a specialty and retail pharmacy company based in the greater Nashville, Tenn., area. The deal includes EntrustRx, a specialty pharmacy operation with
