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Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also operates retail clinics that provide treatment for common conditions; and provides preventative services, such as screenings, medical tests, immunizations, and basic physical exams. In addition, this segment offers healthcare coaching and disease management services. The Pharmacy Services segment provides pharmacy benefit management (PBM) services and a range of pharmacy-related services. This segment also performs prescription adjudication services for other PBMs; and offers integrated mail-order and specialty pharmacy services, as well as drug benefits under the federal government's Medicare Part D program. As of April 21, 2020, the company operated approximately 2,400 retail pharmacy locations in 18 states. Rite Aid Corporation was founded in 1927 and is headquartered in Camp Hill, Pennsylvania.

Rite Aid

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This file photo shows a store sign on a Rite Aid in Pittsburgh on Monday, Jan. 23, 2023. (AP Photo/Gene J. Puskar)AP · Another Rite Aid store in Dauphin County is closing

Rite Aid to close Dauphin County store, directs pharmacy customers to nearby CVS - pennlive.com

The pharmaceutical retailer has announced the closing of more than 400 stores since it filed for bankruptcy in October.

Rite Aid to close 17 more stores, including 6 in Pa. - pennlive.com

Drug store chain Rite Aid Corp. put off a key court hearing in order to complete a deal that would cut $2 billion in debt, resolve lawsuits related to opioid prescriptions and end the company’s six-month-old bankruptcy.

Rite Aid (RADCQ) Delays Key Bankruptcy Hearing on Deal to Cut $2 Billion in Debt - Bloomberg

As Rite Aid continues to make its way through its Chapter 11 bankruptcy process, court filings reveal that 13 more stores are set to close, including 3 in Ohio.

Rite Aid to close 13 more stores, including 3 in Ohio: See which stores are shuttering

Rite Aid has announced plans to close 13 additional stores after filing for Chapter 11 bankruptcy protection last year, according to court documents filed Tuesday.

Rite Aid to close 13 additional locations in 5 states, court docs say

Rite Aid will be shuttering two more locations in the Pittsburgh area.

2 more Pittsburgh-area Rite Aid locations closing

Eight Rite-Aid stores will soon close in Western New York months after the company filed for Bankruptcy.

Rite-Aid closures in Western New York

Rite Aids to close NJ, NY locations, court docs say

The couple who owns Santa Cruz Power Fitness have found that their members often belong to several gyms as they seek different amenities. In swooping into the Midtown spot vacated by Rite Aid, they&#x27;re hoping to consolidate a variety of clients into one state-of-the-art spot.

Santa Cruz Power Fitness owners aim to transform former Rite Aid into state-of-art fitness facility - Lookout Santa Cruz

HARRISBURG, Pa. (WHTM) — A week before a judge could approve bankrupt Rite Aid’s restructuring plan, a group of creditors complained the company is paying its CEO too much to steer the company through the Chapter 11 process. Jeffrey Stein, the company’s chief executive officer and chief ...

Rite Aid creditors complain of ‘excessive’ CEO pay ahead of Monday reorganization hearing | ABC27

Citing financial trouble, the company filed for state bankruptcy earlier this week after seeking bankruptcy protection back in October.

Rite Aid to close 6 New Jersey locations

Rite Aid plans to close 77 stores nationwide, new court documents show. Here&#x27;s where closures will be happening in NJ:

6 Rite Aid Stores Closing In NJ; Among 77 Nationwide | Across New Jersey, NJ Patch

The Rite Aid at Bailey and East Delavan is one of a dozen stores Rite Aid plans to close across New York State this year.

Rite Aid at Bailey and E Delavan set to close; NY AG files objection with bankruptcy court

[Photo by on ] freestocks.org Unsplash CVS is offering to pay $66 billion for Aetna — a blending that could turn local drugstores into health insurers. Assessing the impacts of the recent rash of mergers and takeovers in the healthcare field. The mega-marketplace revolution is in full swing across all industries right now. Amazon shelled out $13.7 billion for Whole Foods in an effort to gain a stronger foothold in the grocery industry, AT&T wants to buy Time Warner for $85 billion, UnitedHealth Group is acquiring DaVita Medical Group and the latter’s 300 doctors’ clinics for $4.9 billion, and CVS is offering to pay $66 billion for Aetna — a blending that could turn local drugstores into health insurers. These deals collectively paint a picture of a business environment that’s ripe for consolidation and ready to merge. Of particular interest to the healthcare industry — already grappling with changes and turmoil on many different fronts — the proposed CVS-Aetna deal could find the acquirer creating a unified, seamless benefits offering to customers (such as large employers). “The combined behemoth would also have a large and diversified store of health data, an important asset in today’s competitive environment,” the reports, noting that Amazon’s intention to “move into the pharmacy business helped spur CVS’ move on Aetna.” Wall Street Journal From this recent spate of mega-deals, the entities involved expect benefits like improved economies of scale (the “power of one” versus various, scattered entities), better profits (which, in turn, can fund R&D and other initiatives); and new faces on the newly-combined firm’s management and leadership teams. The disadvantages include, but aren’t limited to, difficulties coordinating and communicating across the combined entity and the length of time it takes to physically “merge” the two companies into a single, efficient organization. The question is, how will these combined superpowers impact their customers and their respective industries as a whole? Here are four ways things could play out: It could spawn a groundswell of mega-mergers and, subsequently, less competition. If the merger goes through, it could trigger another wave of takeovers. In fact, analysts feel it could cause a wave of industry consolidation, with Walgreens Boots Alliance (WBA) and Rite-Aid (RAD) currently seeking mergers or acquisitions with other major health insurers. This could give a smaller concentration of companies a bigger stronghold on the nation’s healthcare industry. Consumer options could be reduced and customers could be subjected to higher co-pays (i.e., if they select a non-CVS drugstore to fill an Aeta plan prescription). Healthcare is a fundamental service that’s comparable to cable, electricity, and telephones, all of which have been consolidated under mega brands and via mega-mergers. And while healthcare is a highly-regulated industry, the idea of only having one drugstore or one insurance provider to choose from could push prices up while whittling down choices. Better economies of scale could be in sight for healthcare insurers and other providers. Under pressure to address losses suffered from former President Barack Obama’s Affordable Care Act, and then navigate the murky waters of Obamacare eradication, major health insurers have been grappling with reductions in program offerings. Health care mergers and acquisitions have been rampant over the last few years, making the savings associated with economies of scale that much more critical as margins tighten. In the CVS-Aetna deal, for example, the combined entity would also have more firepower against a giant e-tailer like Amazon — an advantage that companies across many industries are trying to figure out right now. In fact, the “Amazon Effect” is one of the drivers of healthcare mergers and the quest to provide a single point of service and information for customers. This, in turn, helps to reduce the cost of running the healthcare supply chain, the cost of customer acquisition, and the cost of healthcare delivery. Amazon is already leveraging these advantages in numerous marketplaces, and healthcare firms want to be able to replicate that in their own industry. Premiums may not get any lower. Seeking relief from rising insurance and healthcare bills, consumers are waiting for a miracle to come and lower their bills. The CVS-Aetna deal probably isn’t their knight in shining armor. In fact, there’s been no real impact on lowering premiums among beneficiaries due to health insurance mergers, according to a study. In fact, statistics show that less competition in the health payer market can result in higher monthly premiums for beneficiaries, and particularly for those in employer-sponsored, commercial health plans. But just because you merge an insurance company with the drugstore doesn’t mean consumers will be privy to lower prices. At a basic level, premiums really only go down if fewer people visit the doctor or hospital, and a mega-merger isn’t going to make that happen. Harvard Business Review Organizations may stop innovating. When was the last time your cable company introduced a groundbreaking, innovative product? Or your electric company rolled out a pioneering new service? The answer is probably “never,” and that’s because competition spawns innovation. In the absence of a competitor knocking on your customers’ doors, trying to sell them a newer, better, and more efficient product or service, the drive to innovate dwindles to zero. This could happen if we start to see more healthcare companies merging and creating less competition for themselves. Anytime you have a captive consumer, companies don’t think too hard about innovation. As more companies look to merge with one another in an effort to gain operational savings, reduce overhead, eliminate redundancies, and gain a foothold in new verticals, the underlying tenets of healthcare probably won’t change much — namely because transformation can’t happen unless we take a holistic view of the problem and fix all of the pain points within that larger picture. Because all of the systems that make up the bigger healthcare picture are interdependent, you can’t just fix one part and expect transformation to occur. In the end, preventative medicine is what’s going to reduce the cost of healthcare, and that’s both an individual and a social responsibility. Copyright © 2017 by Faisal Hoque. All rights reserved. I am an . Founder of and other companies. Shadoka enables aspirations to lead, innovate, and transform. Shadoka’s accelerators and solutions bring together the management frameworks, digital platforms, and thought leadership to enable innovation, transformation, entrepreneurship, growth and social impact. entrepreneur and author SHADOKA Author of “ ” (McGraw Hill) and “ ” (Motivational Press). Follow me on Twitter . Everything Connects — How to Transform and Lead in the Age of Creativity, Innovation and Sustainability Survive to Thrive: 27 Practices of Resilient Entrepreneurs, Innovators, and Leaders Faisal Hoque Use the Everything Connects leadership app and Suvvive to Thrive resiliancy app for free.

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