Rite Aid Acquires RediClinic, One of the Nation’s Leading Operators of Retail Clinics
Will Begin to Open New RediClinics in Select Rite Aid Markets as well as Continue to Support RediClinic's Expansion in Texas
CAMP HILL, Pa. (April 10, 2014) - Rite Aid Corporation (NYSE:RAD) announced today it has acquired Houston-based RediClinic, one of the nation's leading operators of retail clinics. RediClinic currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Through the acquisition, RediClinic will operate as a wholly owned subsidiary of Rite Aid. Details of the transaction were not disclosed.
"RediClinic is a pioneer and a leader in the retail clinic industry, having provided high-quality, convenient and affordable health care to nearly one and a half million people since opening its first clinic in 2005," said Rite Aid Chairman and CEO John Standley. "Retail clinics play a critical role in today's health care delivery system and will play an important role in Rite Aid's overall health and wellness strategy. We are committed to working with RediClinic to expand its current footprint in Texas and, in the near future, begin to bring its expertise in delivering convenient healthcare and wellness programs to Rite Aid customers in select Rite Aid markets."
RediClinics are staffed by board certified nurse practitioners and physician assistants, who are trained and licensed to treat common conditions and provide preventive services, in collaboration with local physicians who are affiliated with a leading healthcare system in each market. Patients can be treated for more than 30 common medical conditions and RediClinic's clinicians are able to write prescriptions for these conditions when appropriate.
Additionally, RediClinics provide a broad range of preventive services, including screenings, medical tests, immunizations, and basic physical exams; and the company's innovative and acclaimed Weigh Forward® weight/lifestyle management program is offered at RediClinics and licensed to other providers.
"Through our new relationship with Rite Aid, RediClinic is well positioned for continued growth in Texas and other states," said RediClinic CEO Web Golinkin. "Rite Aid enables us to leverage our many years of experience in retail healthcare to the benefit of patients throughout the U.S., and we look forward to working with the Rite Aid team to deliver on our shared mission of helping people live and stay well."
Rite Aid Corporation is one of the nation's leading drugstore chains with nearly 4,600 stores in 31 states and the District of Columbia and fiscal 2013 annual revenues of $25.4 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.
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