The asset purchase agreement completed with Walgreens April 27, 2011, will transfer ownership of the operations and select assets of Carle RxExpress’ 10 locations in east central Illinois. Carle RxExpress’ changeover to Walgreens is expected to be complete in July. The transaction will result in six pharmacies remaining open under the Walgreens banner and four that will close with prescription files and inventory being transferred to nearby Walgreens locations.
“The Carle Foundation board and administrative leadership team are confident the sale of Carle RxExpress will enhance the overall pharmacy services available for our pharmacy customers and their families,” said John Snyder, executive vice president and chief operating officer of The Carle Foundation.
In recent years, Carle RxExpress has been increasingly challenged by significant competitive pressure. National pharmacy chains can provide competitive pricing on generics and 90-day prescriptions – discounts which Carle RxExpress has been unable to match on a sustained basis.
Snyder added, “Carle RxExpress pharmacists and staff have provided quality and caring services for our pharmacy customers and their families for 27 years, and we sincerely appreciate all of their efforts and hard work. But it is clear that Walgreens’ comprehensive national resources will provide enhanced services for customers in east central Illinois.”
Walgreens plans to continue operating six of the pharmacy locations as part of the agreement. The three that will close May 31 are Danville, Urbana Cunningham Avenue and Windsor Road. In June, the South Clinic location will consolidate with the hospital main lobby pharmacy. Carle will work with Walgreens to ensure that prescriptions are transferred to nearby Walgreens locations as smoothly as possible.
Walgreens has committed to hiring the majority of RxExpress employees and will interview all RxExpress employees who apply. Carle will work with affected employees not hired by Walgreens to support them during the transition period. Those eligible will receive severance pay.
Proceeds from the sale will be invested into purposes closely aligned with Carle’s mission of improving the health of east central Illinois residents, including acquisition of essential diagnostic equipment, technology upgrades, facility improvements and expansions, and broader patient access to healthcare services through Carle’s many assistance programs, such as its Community Care Discount Program.
Completion of the transaction is subject to certain conditions and is expected to close by July.
All Carle Medical Supply locations will remain open.
About Carle
Based in Urbana, Ill., The Carle Foundation is the not-for-profit parent company of an integrated network of healthcare services. Carle RxExpress, which opened in 1983, serves six communities at 10 locations in east central Illinois. As an integrated system, Carle remains a committed partner in strengthening the health and well-being of the communities it serves.
About Walgreens
Walgreens is the nation's largest drugstore chain with fiscal 2010 sales of $67 billion. The company operates 7,697 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health centers and in-store convenient care clinics, with more than 700 locations throughout the country.