Mr. Crawford told analysts Wednesday he expects Rite Aid’s EnvisionRx PBM, which the company acquired in 2015, to add at least 100,000 customers this year, making the business a crucial “growth engine for the entire enterprise,” the report states.
EnvisionRx was slated to be part of Rite Aid’s original deal with Walgreens. However, officials nixed the PBM from the acquisition to satisfy federal regulators’ scrutiny of the transaction, the Philadelphia Business Journal states.
Rite Aid, which has already completed the transfer of 350 of the 2,000 stores to Walgreens, said EnvisionRx covers approximately 500,000 lives, according to the Philadelphia Business Journal.
More articles on transactions and valuations:
Illinois OKs BJC HealthCare’s 2-hospital takeover plan
SSM Health completes sponsorship transfer of 2 Wisconsin health facilities
UNC Health Care finalizes purchase, rebrands bankrupt North Carolina hospital
