Rite Aid acquired the assets of bankrupt HealthSpot for $1.2 million, according to a MedCity News report published Monday. "That price is a bargain compared to the $5.2 million valuation Dublin, Ohio-based HealthSpot placed on its assets and IP when the Columbus, Ohio, bankruptcy court accepted its liquidation plan in March," MedCity reported. "HealthSpot said that $3.5 million of those assets were in the form of 191 telemedicine kiosks, just 54 of which had ever been deployed." (MedCity News)
The first TelehealthONE kiosk was launched at a Fred’s location in Flora, Miss. in September 2015, and the next nine will hit the communities of Union, Pelahatchie, Carthage, Morton, Jackson, Pearl, Clinton, Lexington and Terry.
The Federal Trade Commission is nearing its decision on the proposed merger of Rite Aid by Walgreens Boots Alliance, The New York Post reported late Thursday night, and signs point toward an approval. "The FTC’s biggest concern is the merger will give the combined company too much power when negotiating prices with pharmacy benefit managers," The Post reported. "[But] on Thursday, the chief executive of the No. 1 pharmacy manager, Express Scripts’ Tim Wentworth, said he welcomed the merger." (The New York Post)
"With the two co-COOs overseeing the day-to-day activities of the company, ... I will be able to further focus on driving the growth strategy and development of WBA," said Stefano Pessina, WBA executive vice chair and CEO.
Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items. According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period. (Reuters)