CVS to Buy 99 Schnucks Markets Pharmacies, 11 Others to Close
CVS Pharmacy is in the process of acquiring 99 pharmacies from Schnucks Markets, a chain that operates 112 stores in the Midwest. The acquired locations will be rebranded as CVS Pharmacies. Additionally, 11 other Schnucks pharmacies will close after prescription files are transferred to CVS.
“We have great admiration for Schnucks and believe CVS Pharmacy can bring additional clinical services to its customers,” said Jon Roberts, evp and COO, CVS Health. “One of CVS Health’s strategic imperatives is to Be Local. By opening CVS Pharmacy locations within Schnucks stores, we’re increasing access to high quality care and meeting customers where they are. Schnucks is a best-in class grocer and we’re honored to partner with them to bring our best-in-class pharmacy capabilities to their customers.”
In 2014, CVS Pharmacy became the first and only major retail pharmacy to remove tobacco from its shelves. Schnucks stores became tobacco free as of Jan. 1 this year. Schnucks’ decision to exit tobacco further aligns the company with CVS Health.
“As Schnucks continues to expand our emphasis on health and wellness, this collaboration with CVS is an opportunity for us to align with a company that has a similar focus,” said Todd Schnuck, Chairman and CEO of Schnucks. “This partnership allows us to continue to provide quality pharmacy services to our customers in a manner they’ve come to expect, while supporting our mission to nourish people’s lives. It also provides our pharmacy teammates an opportunity to further their careers with a premier retail pharmacy chain.”
To provide continuity for Schnucks pharmacy customers, CVS Pharmacy will post all pharmacist and pharmacy technician positions and will interview all Schnucks employees who apply. In-store changes will be rolled out over a period of several months after the completion of the transaction as CVS Pharmacy and Schnucks work to ensure the smoothest possible transition for all pharmacy patients.
Schnucks Specialty pharmacy patients will benefit from CVS Specialty’s expertise in providing ongoing disease education, counseling and benefits verification, as well as coordination of care with multiple health care providers, comprehensive patient education and adherence management.
Following completion of the transaction, all Schnucks pharmacy customers will have access to CVS Pharmacy’s leading pharmacy care programs.
The transaction is expected to be completed by end of the second quarter and is subject to customary closing conditions. Schnucks Markets has stores in Missouri, Indiana, Wisconsin, Iowa and Illinois.