Drug Stores eUpdate
CVS Caremark appointed Kevin Murphy President of Accordant Health Services, a CVS Caremark company that provides disease and case management services for people with rare chronic diseases. Also announced is the appointment of Randy Falkenrath as Senior VP Specialty Pharmacy, with responsibility for the ongoing development of clinical programs and product management to support the company’s specialty pharmacy business.
CVS Caremark has also confirmed that Jim Trappani, VP merchandising for health care and multicultural, has decided to leave the company. Grant Pill has assumed the role of VP Merchandising for over-the-counter healthcare and store brands. In addition, Mike McEnany has been promoted to VP Merchandising, Consumables and Multicultural. Greg Froton also has been promoted to VP of Merchandising, General Merchandise and International Sourcing.
Ken Finnegan, Walgreensdivisional VP healthcare new business development, will assume leadership of the corporate innovation team succeeding Colin Watts, who is taking a corporate position at Weight Watchers as SVP wellness and global innovation.
Mergers and Acquisitions:
L.A. Fitness is buying 171 Bally clubs nationwide, while Bally will continue to own and operate about 100 fitness centers in
New York, San Francisco, Denverand . The Chicago Tribune reports that the deal is worth $153 million. Houston
Walgreens received GE Lighting’s Retailer of the Year award in recognition of the drugstore chain’s transition from F28 to F25 linear fluorescent lamps, a strategic move that enabled the company to achieve a 9% energy savings while also extending its re-lamp cycle — how frequently it changes bulbs — by 10%.