RAD: Rite Aid Acquires RediClinic

by Burke Speaker | April 10, 2014 10:18 am

RAD: Rite Aid Acquires RediClinic

Rite Aid (RAD[1]) announced today that it has acquired RediClinic — the Texas-based retail clinic operator.

rite aid stock 300x239 RAD: Rite Aid Acquires RediClinic[2]Though full details of the purchase have not been immediately released, RediClinic will operate as a wholly owned subsidiary of the Rite Aid retail drugstore chain.

RediClinics — with some 30 in the Houston, Austin and San Antonio areas – are staffed by nurse practitioners and physician assistants, treating minor conditions and offering preventative services such as screenings, immunizations, and physicals.

The staff work with local physicians who are affiliated with the healthcare system in that particular area.

Rite Aid is coming off a significant stock leap following revenue results and fiscal year projections[3].

Rite Aid is looking to add new RediClinic retail clinics to some of its markets. Moreover, the company recently acquired Health Dialog Services Corp., a provider of health coaching and analytics.

The acquisitions are part of Rite Aid’s overall strategy to become a more fulsome healthcare provider in both products and services, the company said.

Rite Aid reported that “in the fourth quarter, the company relocated 2 stores, remodeled 94 stores and expanded 3 stores, bringing the total number of wellness stores chainwide to 1,215. The company also closed 8 stores, resulting in a total store count of 4,587 at the end of the fourth quarter.”

More Drug Store News

Endnotes:
  1. RAD: http://studio-5.financialcontent.com/investplace/quote?Symbol=RAD
  2. [Image]: http://investorplace.com/wp-content/uploads/2014/04/rite-aid-stock.jpg
  3. following revenue results and fiscal year projections: http://investorplace.com/2014/04/rad-rite-aid-stock-earnings/
  4. Don’t Even Bother With Drugstore Stocks: http://investorplace.com/2012/03/dont-even-bother-with-drugstore-stocks-wag-cvs-rad/
  5. Walgreen Buys Another Drugstore Chain: http://investorplace.com/2012/07/walgreen-to-buy-regional-drug-store-chain/

Source URL: http://investorplace.com/2014/04/rad-rite-aid-acquires-rediclinic/
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