Industry Updates: Drug Stores and HBC Chains – August 2014
GNC has appointed Michael G. Archbold as CEO and Member of the Board, effective immediately. Archbold replaces Chairman, President and CEO Joseph Fortunato, who is leaving the company and has stepped down from the board. Lead independent director Michael Hines has been elected Non-Executive Chairman.
Rexall’s has appointed Warren Jeffery to COO.
Roundy’s announced that its Exec VP and CFO, Darren Karst, will be leaving the company to join Rite Aid in the same role. The company also announced that Michael Turzenski, currently Roundy’s Group VP and Chief Accounting Officer, has been named to succeed Karst as Group VP and CFO.
Walgreens has announced that Mark Wagner, currently President of Community Management and Store Operations, will take on a new role as President of Business Operations. Brad Fluegel, currently Senior VP and Chief Strategy Officer, will become Senior VP Chief Strategy and Business Development Officer. Timothy McLevish has been appointed Exec VP and CFO.
Cardinal Health reported its fiscal year 2014 revenue was $91.1 billion, down 9.9% from fiscal year 2013 revenue of $101.1 billion.
CVS/pharmacy and URAC have announced that CVS/pharmacy is the first pharmacy in the nation to earn the new Community Pharmacy accreditation from URAC, a healthcare accreditation organization that establishes quality standards for the health care industry. All CVS/pharmacy and Longs Drug Store locations nationwide have earned this accreditation. McKesson extended its pharmaceutical distribution deal with CVS Caremark.
Mergers and Acquisitions:
Equinox, New York, has acquired six of the Sports Club/LA clubs operated by Millennium Partners.
Gold’s Gym has made its second acquisition of 2014 and fourth regional club chain acquisition in the past three years by agreeing to acquire all 23 clubs operated by The Rush Fitness Complex.
The Healthworks Group, Boston, announced it is acquiring the “Jewel Box” Sports Club/LA club in the Boston suburb of Chestnut Hill, MA.
Walgreens acquired the remainder of Alliance Boots.
CVS/pharmacy celebrated its entrance into the Seattle market with the grand opening of a new location in the city of Renton, marking the first CVS/pharmacy in the state of Washington. MinuteClinic, a division of CVS Caremark, opened its first clinics in Nebraska, Sacramento, and Elk Grove. A third clinic is planned to open in Fair Oaks in October.
The Little Clinic announced a number of new store openings, including its first clinic locations in Virginia. Little Clinic are located inside select Kroger stores.
Shoppers Drug Mart opened its third enhanced beauty boutique inside its stores.
Vitamin Shoppe plans to open approximately 60 new stores in 2014.
Walgreens announced it is expanding its Healthcare Clinic retail locations with entry into the Dallas-Fort Worth market.
Walmart opened its first Care Clinics in two of its stores in Sumter and Florence, South Carolina.