Reports: CVS Caremark looking to acquire drug chain Onofre in Brazil
WOONSOCKET, R.I. — CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.
The Valor Economico newspaper reported that CVS Caremark plans to pay $313 million to acquire an 80% stake in Onofre and will also assume the company’s debt.
“We don’t comment on market rumors,” CVS Caremark spokesman Mike DeAngelis told Drug Store News.
According to reports, Onofre, which is controlled by the Arede family, is the eighth-largest drug store chain in Brazil in terms of revenues, posting gross revenue of BR1.2 billion in 2011. Onofre operates 44 stores in Sao Paulo, Rio de Janeiro, Minas Gerais, Espirito Santo and Rio Grande do Sul states.
"According to IMS Health, Brazil’s market (as measured by manufacturers’ revenues) was $29.9 billion in 2011, and is projected to grow by 12% to 15% through 2016," Pembroke Consulting’s Adam Fein noted Friday morning in his blog Drug Channels.
CVS Caremark has stated that it plans to continue to increase the number of stores by 2% to 3% each year, taking share from rivals, but some industry observers have been particularly curious about the likelihood of international expansion, especially in light of Walgreens’ recent merger with Boots Alliance in the U.K.
“Management discussed its thoughts on international expansion at several of the investor meetings, saying that retail pharmacy would work in some places like South America where governments do not set pharmaceutical prices. They viewed the PBM model as much tougher to export,” stated Barclays Capital analyst Meredith Adler in a recent research note. “If CVS takes any steps to grow outside the U.S., however, it will move very slowly and carefully to mitigate the risks; organic growth or small acquisitions are the preferred approach.”
AthenaHealth recruiting retail clinic/urgent care-specific director of client development
WATERTOWN, Mass — AthenaHealth has announced that it is recruiting for a retail clinic/urgent care-specific director of client development.
The Enterprise division manages the largest and most dynamic clients at AthenaHealth. These clients often have multiple c-suites or senior management teams in geographically dispersed locations. Enterprise clients are growing through acquisition and/or consolidation strategies and are usually leading change in the industry and are considered thought leaders.
These characteristics represent considerable challenges, requiring a seasoned team that can manage through the politics and complexity. The director (client development-retail) would lead such a team of four to six senior account managers who are focused on Athena’s clients in the retail clinic and urgent care space. Currently, Athena has five such clients. The director is assigned a book-of-business to manage and is given targets for growing this business segment. The director (client development-retail) is expected to be able to articulate and communicate the Athena POV on key business processes, practice management, and workflow issues.
Given the specialized nature of the retail and urgent care space, the director (client development-retail) will support Athena’s Growth and Solutions Design teams during the sales process with prospective clients providing retail industry specific knowledge and insight. The director (client development-retail) will begin involvement with their client during implementation process and is responsible for the development and maintenance of the client relationships and strategic relationship plan.
The director (client development-retail) oversees all aspects of client interaction, develops meeting agendas and leads meetings involving Athena operations, sales, services, contract negotiations, finance, consulting and support personnel. They are responsible for ensuring that client contract terms are met. The director, in conjunction with the VPCD, has regularly scheduled partnership governance and business review meetings with the client’s c-suite and strives to become their trusted advisor.
The director (client development-retail) will also take a leadership role in the convenient care and urgent care industry associations ensuring Athena is well represented within these organizations as a leading service provider and thought leader.
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Sartori Cheese launches “12 Days of Christmas” campaign
PLYMOUTH, Wis. — Sartori Cheese has started a special promotion on Facebook in anticipation of the holiday season, the company said Thursday.
Sartori announced the launch of its "12 Days of Christmas" campaign, which will present Facebook fans of the company with a new challenge or activity each day ranging from recipe creation to trivia about the company. Prizes will be awarded daily, varying from small collections of wedges to limited-edition gift boxes and half a wheel of the company’s "Classic Parmesan" cheese.
"We are very fortunate to have a great following on our Facebook page," Sartori associate marketing manager Ryan Gillespie said. "We look at this as a great way to share the holiday spirit and a really fun way to say ‘thank you’ to our fans."
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