CVS Well being says it’s promoting all 22 of its retail drugstores in Puerto Rico – ET HealthWorld | Pharma


Puerto Rico: CVS Health mentioned Monday that it has reached an settlement to promote its retail drugstores in Puerto Rico to Caribe Pharmacy Holdings.

In an e-mail to The Associated Press, CVS Well being mentioned the deal involving 22 of its pharmacies could be accomplished in April and that the client plans to proceed all operations and retain all staff.

A spokeswoman mentioned the corporate isn’t releasing monetary particulars of the transaction. The purchaser, Caribe Pharmacy Holdings, owns Farmacias Caridad.

The corporate mentioned its determination to go away the U.S. territory “was primarily based on a number of elements, together with native market dynamics and inhabitants shifts.”

CVS Well being mentioned the island’s sole specialty pharmacy location would proceed to function in Puerto Rico and that one other is below building.

In November 2021, CVS Well being introduced it could shut a whole bunch of shops over the subsequent three years following an evaluation of inhabitants modifications, buyer shopping for patterns and future well being wants.

  • Revealed On Feb 6, 2024 at 04:50 PM IST

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