CVS Pharmacy buys retail pharmacy business in Ohio
The 65-year-old Ritzman Pharmacies is selling its retail stores to CVS Pharmacy.
Ritzman Pharmacies announced that it plans to sell its 20 retail pharmacies to CVS Pharmacy, with the acquisition expected to be completed by the end of February. Ritzman primarily services markets in northeast Ohio. CVS plans to keep two of the stores (in Akron and Berlin) open and operating with the same staff. The remaining stores will close and all pharmacy files will be transferred to nearby CVS stores.
The two companies are working closely together to ensure the transition will be seamless for customers and their access to pharmacy care is not interrupted. CVS also expects to interview any Ritzman Pharmacy employee who is interested in joining the CVS Pharmacy team.
“We have worked hard to sustain the independently operated community pharmacy model and are disappointed to bring it to a close, but it is time to pass our retail business to a company with more resources.” said Eric Graf, president and CEO of Ritzman. “While change is always difficult, especially after almost 70 years in business, customers and patients will benefit from having a wide range of products and services available and continued pharmacy care.”
Ritzman owns a management company, VAR, that will continue its management of Summa’s Home Infusion.
Ritzman Pharmacies announced that it plans to sell its 20 retail pharmacies to CVS Pharmacy, with the acquisition expected to be completed by the end of February. Ritzman primarily services markets in northeast Ohio. CVS plans to keep two of the stores (in Akron and Berlin) open and operating with the same staff. The remaining stores will close and all pharmacy files will be transferred to nearby CVS stores.
The two companies are working closely together to ensure the transition will be seamless for customers and their access to pharmacy care is not interrupted. CVS also expects to interview any Ritzman Pharmacy employee who is interested in joining the CVS Pharmacy team.
“We have worked hard to sustain the independently operated community pharmacy model and are disappointed to bring it to a close, but it is time to pass our retail business to a company with more resources.” said Eric Graf, president and CEO of Ritzman. “While change is always difficult, especially after almost 70 years in business, customers and patients will benefit from having a wide range of products and services available and continued pharmacy care.”
Ritzman owns a management company, VAR, that will continue its management of Summa’s Home Infusion.