CVS announced the acquisition of the Ohio pharmacy chain Ritzman Pharmacy. With the acquisition comes the closure of all but three Ritzman Stores. Critics say that CVS used its dominance in the pharmacy middleman business to destroy the competition in pharmacy retail.
https://www.dispatch.com/news/20190107/cvs-buying-ohio-pharmacy-chain-closing-all-but-three
Really, CVS focused on getting this huge (sarcasm) acquisition and manipulated the market to make this happen?
Perhaps other market factors may have been in play, such as dwindling margin and market share for this independent? Perhaps the executives there thought this was the best time to bail? Do you really think CVS was the only bidder for the files? They took the money for the patient files and abandoned their workers just like every other business.
Don’t paint CVS as the bad guy here - they offered a better deal than WBA or RAD, that’s all.
Just told the employees yesterday!
Yes true! 17 stores will close all will be laid off! That’s how we do it🎶