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CAMP HILL, Pa. — Rite Aid Corp. announced it has acquired RediClinic, one of the nation’s leading operators of retail clinics, on the same day it reported operating results for the fourth quarter and fiscal year ended March 1.
Rite Aid Corp. announced it has acquired RediClinic, one of the nation’s leading operators of retail clinics, on the same day it reported operating results for the fourth quarter and fiscal year ended March 1.
Houston-based RediClinic, which will operate as a wholly owned subsidiary of Rite Aid, has 30 clinics in the greater Houston, Austin and San Antonio areas.
Rite Aid chairman and chief executive officer John Standley described RediClinic as a pioneer in the retail clinic industry, adding: "We are committed to working with RediClinic to expand its current footprint in Texas and, in the near future, begin to bring its expertise in delivering convenient health care and wellness programs to Rite Aid customers in select Rite Aid markets."
The announcement came as Rite Aid released its latest figures, which include revenues of $6.6 billion and $25.5 billion for the fourth quarter and full year, respectively. The previous year’s figures were $6.5 million for the quarter and $25.4 billion for the full year. The fourth quarter and full-year adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) were both company records.
"These accomplishments reflect the significant progress we’re making in executing key initiatives and delivering on our promise to actively work with our customers to keep them well," Standley said.
Earlier in April, Rite Aid announced its acquisition of Boston-based health coaching company Health Dialog Services Corp., a move aimed at advancing the Rite Aid Health Alliance program.
"Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson, and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail health care company," Standley said.
