CVS buys 20-store Ohio pharmacy chain

CVS Pharmacy is buying Ritzman Pharmacy, a 20-store retail pharmacy chain with locations in northeast Ohio.   

Under the agreement, 17 of Ritzman's pharmacies will close and all pharmacy files will be transferred to nearby CVS stores. Three Ritzman pharmacy locations will remain open and transfer to the CVS brand.  

When the deal closes, Ritzman Pharmacy will withdraw its participation in its joint venture pharmacy with Northeast Ohio Medical University in Rootstown.

"While change is always difficult, especially after almost 70 years in business, customers and patients will benefit from having a wide range of products and services available and continued pharmacy care," said Ritzman President and CEO Eric Graf. "We wish our customers, our associates and their families a healthy future."

The financial terms of the deal, which is expected to close by March, were not disclosed.

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