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Rite Aid has $4 billion in debt, $8.6 billion in total liabilities and $7.65 billion in assets, according to court filings in the U.S. Bankruptcy Court for the District of New Jersey.
Rite Aid has also struggled to keep up with its bigger rivals, CVS and Walgreens, as those companies have pivoted to a health care focus and made sizable investments to match.
Rite Aid's bankruptcy plan, revised on Thursday, would cut $2 billion in debt and provide $47.5 million to junior creditors, including individuals and local governments who have sued the company ...
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [1] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center.
A Rite Aid representative declined to comment on whether that program will continue. Jonas said drugstores do want to help with pharmacy access, but the economics still need to work for these ...
On October 27, 2015, Walgreens announced the purchase of competitor Rite Aid for $17.2 billion (equivalent to $21.6 billion in 2023). [12] [13] However, that deal was later scrapped due to antitrust concerns in favor of a $5.18 billion deal (equivalent to $6.33 billion in 2023), [12] in which Walgreens only acquired half of Rite Aid locations. [14]
In 2007, Health Dialog was acquired by Bupa, an international healthcare group, until it was purchased by the Rite Aid Corporation in 2014. [ 16 ] [ 17 ] [ 18 ] Currently, the company is part of Carenet Health, which delivers telephonic and online support to customers while also utilizing predictive analytics to suggest opportunities for lower ...
With Rite Aid reporting its third quarter earnings on Thursday and Walgreen reporting on Friday, this is bound to be a big week for drugstore chains. Heading into earnings, what can we expect of ...