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March 11, 2020updated 12 Mar 2020 7:45am

CVS Pharmacy to buy Schnuck Markets’ retail and pharmacy businesses

CVS Pharmacy and its subsidiaries have signed an agreement to acquire 110 Schnuck Markets' retail and speciality pharmacy businesses.

CVS Pharmacy and its subsidiaries have signed an agreement to acquire 110 Schnuck Markets’ retail and speciality pharmacy businesses.

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Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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Under the definitive agreement, CVS and its subsidiaries will acquire and operate 99 of Schnuck’s pharmacies and brand them as CVS Pharmacy.

Additionally, prescription files will be acquired from 11 Schnucks pharmacies. They will be transferred to nearby CVS Pharmacy locations.

CVS Health executive vice-president and chief operating officer Jon Roberts said: “We have great admiration for Schnucks and believe CVS Pharmacy can bring additional clinical services to its customers.

“By opening CVS Pharmacy locations within Schnucks stores, we’re increasing access to high-quality care and meeting customers where they are.”

The partnership will combine Schnuck in the Midwest region and CVS Pharmacy’s pharmacy services and clinical expertise to improve the overall healthcare experience.

Additionally, CVS Health will be able to expand into key areas.

Schnuck Markets chairman and CEO Todd Schnuck said: “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 with an opportunity to further their careers with a premier retail pharmacy chain.”

Upon completion of the transaction, in-store changes will be rolled out over a period of several months.

Following the acquisition, Schnucks Specialty Pharmacy patients will benefit from CVS Specialty’s experience in providing ongoing disease education, counselling, and benefits verification.

All pharmacy customers of Schnucks will get access to CVS Pharmacy’s care programmes.

Subject to customary closing conditions, the transaction is expected to be completed by the end of the second quarter.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.