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The basics:

• CVS completes acquisition of prescription files from 626 Rite Aid and Bartell Drugs locations across 15 states
• Deal includes records from 42 former Rite Aid pharmacies in New Jersey
• CVS said the move expands access to pharmacy care and serves more than 9 million new patients

CVS Pharmacy completed its acquisition of customer prescription files from hundreds of closed Rite Aid stores nationwide, including 42 locations in New Jersey.

In addition to prescription files from 626 stores across 15 states, CVS took over 63 former Rite Aid and Bartell Drugs outposts in Idaho, Oregon and Washington, the Rhode Island-based chain announced in an Oct. 15 press release.

As a result of the transactions, CVS said it now serves more than 9 million patients who formerly had their prescriptions filled at either Rite Aid or Bartell Drugs. According to a CVS spokesperson, the company received prescription files from 42 former Rite Aids in New Jersey.

Most of those prescription transfers occurred between June and August, according to a list provided by the media rep.

CVS also purchased pharmacy assets from stores in California, Connecticut, Delaware, Idaho, Massachusetts, Maryland, New Hampshire, New York, Ohio, Oregon, Pennsylvania, Virginia, Vermont and Washington, the spokesperson said.

The company did not disclose how much it spent on the acquisitions.

Closing doors

In May, CVS received approval from the U.S. Bankruptcy Court for the District of New Jersey for its bid to buy select Rite Aid assets as part of the chain’s bankruptcy process. Rite Aid also sold off pharmacy assets to competitors including Walgreens, Albertsons and Kroger.

According to Rite Aid, Walgreens purchased prescription records from its stores in Point Pleasant, Penns Grove, Perth Amboy, Bridgeton, Whitehouse Station, Bayville, Little Egg Harbor, Highland Park, Vineland, Toms River and Parlin.

In seeking Chapter 11 for the second time in less than two years, Philadelphia-based Rite Aid said poor performance in its retail business made it difficult to maintain sufficient cash flow and keep inventory stocked.

At the time, its store count stood at about 1,250 — a significant drop from its roughly 2,000 sites in 2023. At its peak, the company was the nation’s third-largest standalone pharmacy chain with more than 4,900 locations nationwide.

As part of the latest bankruptcy process, Rite Aid worked with New York-headquartered A&G Real Estate Partners to auction off remaining stores. That list included the chain’s entire New Jersey footprint of 60 units, as well as a distribution center in Delran and its 23,144-square-foot headquarters on Intrepid Avenue in Philadelphia.

Earlier this month, Rite Aid officially went dark after more than six decades in business.

A warm welcome

In a statement, CVS President of Pharmacy and Consumer Wellness Len Shankman said, “We’re excited to have completed the acquisition of select Rite Aid and Bartell Drugs stores in the Pacific Northwest, as well as the acquisition of prescription files of hundreds of Rite Aid and Bartell Drugs pharmacies across 15 states.”

“We’re helping maintain and expand access to convenient and trusted pharmacy care across the U.S. and growing our retail footprint and presence in local communities. From our innovative pharmacy care programs to our exclusive store brand products, we look forward to showing Rite Aid and Bartell Drugs patients and customers all that CVS has to offer,” he said.

According to CVS, helping to maintain convenience for the community and ongoing access to necessary prescriptions were the major factors considered when deciding which stores and prescription files to purchase.

“Most CVS Pharmacy locations that received prescription files from Rite Aid are located within 3 miles of an existing Rite Aid store, and nearly half are within a mile,” the chain noted.