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CVS Pharmacy completes acquisition of Rite Aid assets nationwide

1. CVS completed acquisition of 63 Rite Aid stores in the Pacific Northwest. 2. Acquired prescription files of 626 Rite Aid pharmacies across 15 states. 3. More than 3,500 former Rite Aid employees were hired by CVS. 4. Grand Opening events planned for new CVS locations to engage the community. 5. Acquisition increases CVS's footprint and patient access to pharmacy services.

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FAQ

Why Bullish?

This acquisition enhances CVS's market reach, aligning with historical growth strategies post-mergers. Similar previous expansions have led to increased revenues for CVS.

How important is it?

The acquisition represents a significant strategic move for CVS, potentially increasing sales and customer base.

Why Long Term?

The integration of Rite Aid's assets will take time to reflect in CVS's financials. Historically, mergers improve profitability over several quarters.

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Company wraps up conversion of 63 former Rite Aid and Bartell Drugs stores in the Pacific Northwest and hundreds of prescription file buys across 15 states , /PRNewswire/ -- CVS Pharmacy today announced the completion of its acquisition of select Rite Aid assets nationwide. In total, the company acquired and is now operating 63 former Rite Aid and Bartell Drugs stores in Idaho, Oregon and Washington. CVS Pharmacy also acquired the prescription files of 626 former Rite Aid and Bartell Drugs pharmacies in 15 states. As a result of the transactions, CVS Pharmacy is pleased to be serving more than nine million former Rite Aid and Bartell Drugs patients. The former Rite Aid store at 23028 100th Avenue in Edmonds, WA was recently sold and converted to CVS Pharmacy. "We're excited to have completed the acquisition of select Rite Aid and Bartell Drugs stores in the Pacific Northwest, as well as the acquisition of prescription files of hundreds of Rite Aid and Bartell Drugs pharmacies across 15 states," said Len Shankman, Executive Vice President and President, Pharmacy and Consumer Wellness, CVS Health. "We're helping maintain and expand access to convenient and trusted pharmacy care across the U.S. and growing our retail footprint and presence in local communities. From our innovative pharmacy care programs to our exclusive store brand products, we look forward to showing Rite Aid and Bartell Drugs patients and customers all that CVS has to offer." To increase capacity or fill open roles to ensure patients are well served, CVS Pharmacy has hired more than 3,500 former Rite Aid and Bartell Drug colleagues who were interested in joining the CVS Pharmacy team. In addition, the company has made targeted investments in existing CVS Pharmacy locations, such as scheduling additional support, enhancing recruitment and hiring, and strengthening training programs, to ensure the teams are best positioned to continue to deliver service excellence to all customer and patients, whether existing or new. Rite Aid bankruptcy asset transactions completed In May, the U.S. Bankruptcy Court for the District of New Jersey approved the sale of select Rite Aid assets to CVS Pharmacy. Following the court's approval, CVS Pharmacy began moving through the transaction process. The entire process took less than four months and the last transactions, for the acquisition and operation of former Rite Aid stores in Bend, OR and Bainbridge Island, WA, were completed on September 30.Helping to maintain convenience for the community and ongoing access to necessary prescriptions were the major factors CVS Pharmacy considered when deciding which stores and prescription files to purchase. Most CVS Pharmacy locations that received prescription files from Rite Aid are located within three miles of an existing Rite Aid store and nearly half are within a mile.   Getting to know CVS Pharmacy A trusted provider of accessible health, wellness and pharmacy care services, CVS Pharmacy offers thousands of products, including over-the-counter medications, beauty items, and better-for-you food options, such as the company's Well Market consumables line, and delivers innovative health solutions that create a simpler, more accessible experience for patients, customers and caregivers. In addition, CVS Pharmacy is continuing to offer many of the local brands former Rite Aid and Bartell Drugs customers have grown to know and love.A series of Grand Opening Block Parties, each featuring a DJ, food truck and product giveaways, will be held at some of the newly converted CVS Pharmacy stores in Idaho, Oregon and Washington throughout the month of October. A list of the community events can be found on CVS.com. About CVS Health CVS Health is a leading health solutions company building a world of health around every consumer, wherever they are. As of June 30, 2025, the Company had approximately 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care medical clinics, a leading pharmacy benefits manager with approximately 87 million plan members, and a dedicated senior pharmacy care business serving more than 800,000 patients per year. The Company also serves an estimated more than 37 million people through traditional, voluntary and consumer-directed health insurance products and related services, including highly rated Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan. The Company's integrated model uses personalized, technology driven services to connect people to simply better health, increasing access to quality care, delivering better outcomes, and lowering overall costs. Media contactAmy Thibault401-318-2865[email protected] Shannon Dillon346-291-7131[email protected] SOURCE CVS Health WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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