Rite Aid Stock Soars, Steps Up Competition With CVS

By | February 11, 2015

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Drugstore operators seeking new ways to boost revenue have been entering the pharmacy benefit managing field. Rite Aid (RAD) became the latest to do so, announcing Wednesday it’s buying EnvisionRx, a pharmacy benefit manager owned by private equity firm TPG, for $1.8 billion in cash and $200 million in stock. The acquisition will let Rite Aid run prescription drug plans and compete withExpress Scripts (ESRX) and CVS Health (CVS). Rite Aid shares Scalper1 News

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