Rite Aid Corp. chairman and chief executive officer John Standley recently explained how retail pharmacies can promote value-based care in an opinion piece for the Philadelphia Inquirer/Daily News on Philly.com. Standley stresses that new payment models and value-based payments, which focus on the quality rather than the quantity of care, can help the nation grapple
CAMP HILL, Pa. — Reflecting Rite Aid Corp.’s expanded organization and breadth of health care services, Ken Martindale has been promoted to a new position, chief executive officer of Rite Aid Stores. At the time of the promotion he was president and chief operating officer. He retains the role of president and continues to report
CAMP HILL, Pa. — In a reorganization of key leadership, Rite Aid Corp. has promoted president and chief operating officer Ken Martindale to the newly created position of chief executive officer of Rite Aid stores. The drug chain said late Monday that Martindale, 55, takes the new post effective immediately and will continue to report
CAMP HILL, Pa. — Rite Aid has completed its acquisition of Envision Pharmaceutical Services from private investment firm TPG and other shareholders in a transaction valued at about $2 billion, including about $1.8 billion in cash, and around 27.9 million Rite Aid shares. EnvisionRx will operate as a wholly owned subsidiary of Rite Aid under
CAMP HILL, Pa. — Rite Aid Corp. has finalized its acquisition of pharmacy benefit management company Envision Pharmaceutical Services. The closing of the deal, valued at about $2 billion, came early in the timetable that Rite Aid initially reported. When the acquisition was announced in February, Rite Aid said it expected to complete the transaction
CAMP HILL, Pa. — Rite Aid Corp. saw sales edge up and earnings decline for its fiscal 2016 first quarter, and the company for the first time gave full-year guidance that includes its pending acquisition of pharmacy benefit manager EnvisionRx. Rite Aid said Thursday that for the first quarter ended May 30, net income totaled
PALM BEACH, Fla. — The evolution of health care is here, new National Association of Chain Drug Stores chairman Randy Edeker said at the 2015 NACDS Annual Meeting here last month. “The new health care definition includes environmental factors, nutrition, the social environment, emotional and spiritual factors,” said Edeker, chairman, president and chief executive officer of
When members of the National Association of Chain Drug Stores gathered at The Breakers in Palm Beach for the 2015 NACDS Annual Meeting last month, they brought with them a renewed sense of purpose and confidence in the meaningful contributions that community pharmacy is making to improve the U.S. health care system and meet many
PALM BEACH, Fla. — At its Annual Meeting this weekend, the National Association of Chain Drug Stores (NACDS) elected new officers, four new Executive Committee members and five new board members for the 2015-16 term. Randy Edeker, chairman, president and chief executive officer of Hy-Vee Inc. has been elected as the new NACDS chairman, taking
PALM BEACH, Fla. — The National Association of Chain Drug Stores has posted NACDS Annual Meeting highlights from the Sunday Business Program via its NACDS-TV coverage. The first Business Program of the meeting featured presentations by Rite Aid Corp. chairman and chief executive officer John Standley, who completed his one-year term as NACDS chairman, as
WEST PALM BEACH, Fla. — National Association of Chain Drugs Stores chairman John Standley and president and chief executive officer Steve Anderson updated members on the association’s position in health care, retail, public policy and the political arena at the 2015 NACDS Annual Meeting here. “It’s been an honor to be your chairman over the
CAMP HILL, Pa. — A tax break added to healthy gains in earnings for the 2015 fourth quarter and fiscal year at Rite Aid Corp., which also saw a strong sales performance for both periods. Net income for the fourth quarter and full year were lifted by a reduction of the deferred tax asset valuation
WASHINGTON — The Department of Health and Human Services (HHS) has launched the Health Care Payment Learning and Action Network, a public-private initiative to foster the adoption of value-based health care models. Rite Aid, Walgreens and Walmart are among the network’s more than 2,800 participants, which include payers, providers, states, consumer groups and employers. The
WASHINGTON — More than 350 pharmacy advocates from 44 states met with members of Congress during the seventh annual National Association of Chain Drug Stores RxImpact Day on Capitol Hill late last month. Advocates had more than 450 meetings with legislators, including 95% of the members who serve on congressional committees with jurisdiction on health
