CAMP HILL, Pa.--(BUSINESS WIRE)-- Rite Aid Corporation (NYSE: RAD) announced today it has selected CaptureRx® as its preferred 340B technology vendor and administrator. Through CaptureRx, Rite Aid will offer contract pharmacy services to dispense 340B-priced drugs to patients of eligible community health centers and hospitals nationwide. The 340B drug discount program is a Federal Public Health Service Program that enables qualified health centers and hospitals to purchase drugs for less than half the cost of the commercial market for their outpatients.
“Rite Aid has long been committed to the health of the communities we serve,” said Robert Thompson, Rite Aid Executive Vice President of Pharmacy. “Each day, our pharmacists provide services and programs to help our patients live and stay well. Our relationship with CaptureRx is just another way we can improve overall health outcomes of those we serve every day.”
Rite Aid has identified pilot sites and is currently developing its strategy to offer the 340B program nationwide later this year. Covered Entities that are interested in information and updates on Rite Aid’s 340B program should visit www.riteaid340b.com.
“We are delighted to welcome Rite Aid to our extensive network as we work together to offer better access to quality care to improve the well-being of the communities we serve,” added Edward Gilmartin, CaptureRx Chief Operating Officer.
In addition to technology and operations activities, CaptureRx will also provide Rite Aid with support on 340B-related government policy and industry relations through its Government and Industry Division led by former U.S. Rep. Billy Tauzin. Tauzin was chairman of the House Energy and Commerce Committee, and former president of the Pharmaceutical Research and Manufacturers Association.
Rite Aid Corporation is one of the nation’s leading drugstore chains with approximately 4,700 stores in 31 states and the District of Columbia and fiscal 2011 annual revenues of $25.2 billion. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at www.riteaid.com.
CaptureRx®, formed in 1999 in San Antonio, Texas, is one of the largest 340B administrators in the nation serving safety-net clinics, hospitals and pharmacies. CaptureRx® services have positively impacted millions of patients, uniting patients and pharmacies while lowering drug costs through innovative pharmacy benefit management, and the use of contracted pharmacy network-based delivery of Public Health Service 340B, Group Purchasing Organizations, Own Use and Pharmaceutical Assistance Program drugs.
Today, CaptureRx manages one of the largest 340B programs, operates the nation’s largest 340B contracted pharmacy network, and is a pioneer and technology leader in 340B processing, and automation, through Cumulus™, its proprietary internet “cloud” based platform. For more information, visit www.capturerx.com.
Rite Aid Corporation
Matt Schroeder, 717-214-8867
or [email protected]
Ashley Flower, 860-966-1727
KEYWORDS: United States North America Pennsylvania
INDUSTRY KEYWORDS: Health Hospitals Pharmaceutical Other Health Retail Other Retail General Health