Rite Aid Bankruptcy Follows Years of PBM Misadventure
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Oct 26, 2023
Rite Aid Corp.’s recent Chapter 11 bankruptcy filing could present an opportunity for health insurers and PBMs to poach some of the firm’s assets. Humana Inc. is one of the retail pharmacy chain’s largest creditors, and PBM MedImpact Healthcare Systems, Inc. has offered to buy Rite Aid’s PBM division for $575 million.
Experts tell AIS Health, a division of MMIT, that the bankruptcy is tangible proof that retail pharmacy firms are doomed if they don’t diversify. More than ever, consumers shop for both prescriptions and household items online, trends sped up by the COVID-19 pandemic.
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