CVS Pharmacy Completes Acquisition of Select Rite Aid Locations

CVS Pharmacy today announced it has completed the acquisition of select Rite Aid and Bartell Drugs assets nationwide, adding 63 new store locations in Idaho, Oregon, and Washington, and prescription files from 626 pharmacies across 15 states.¹ The move expands CVS’s reach to serve more than 9 million former Rite Aid and Bartell Drugs patients, reinforcing its commitment to accessible, community-based pharmacy care.

“We’re excited to have completed the acquisition of select Rite Aid and Bartell Drugs stores in the Pacific Northwest, as well as the acquisition of prescription files of hundreds of Rite Aid and Bartell Drugs pharmacies across 15 states,” said Len Shankman, executive vice president and president, Pharmacy and Consumer Wellness, CVS Health, in a statement. “We’re helping maintain and expand access to convenient and trusted pharmacy care across the US and growing our retail footprint and presence in local communities. From our innovative pharmacy care programs to our exclusive store brand products, we look forward to showing Rite Aid and Bartell Drugs patients and customers all that CVS has to offer.”

In October of 2023, Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey amid falling sales, heavy debt, and mounting opioid-related lawsuits.² The company had named Jeffrey Stein as its new CEO and chief restructuring officer to lead its turnaround efforts.

The shutdown of Rite Aid locations has contributed to intensifying the problem of pharmacy deserts, defined as areas where residents have limited or no access to nearby pharmacies, reducing access to nearby pharmacies for millions of Americans, especially in underserved neighborhoods, according to STAT.³ Pharmacy deserts are especially prevalent in low-income and predominantly Black and Latino communities, leading to increased medication nonadherence, worse management of chronic conditions, and reduced access to preventive care such as flu and COVID-19 vaccines. Independent pharmacies, often the most trusted providers in these communities, also struggle to survive in these communities due to low reimbursement rates, exclusion from preferred insurance networks, and limited participation in programs like 340B.

Rite Aid emerged from Chapter 11 bankruptcy in 2024 as a private company, but this recovery proved short-lived, with the chain reduced to around 1200 stores as it struggled to regain stability in a challenging retail environment, according to ABC News.⁴ Like other major and independent pharmacies, Rite Aid continued to face mounting pressures from rising theft, declining foot traffic, and the continued shift of consumers toward online shopping and discount retailers. Meanwhile, industry giants such as Walgreens and CVS Health have continued to dominate the competitive pharmacy landscape.

In May, the US Bankruptcy Court for the District of New Jersey approved the sale of select Rite Aid assets to CVS Pharmacy, marking a key step in the company’s expansion efforts.¹ CVS moved quickly following the court’s decision, completing the entire transaction process in under 4 months. The final acquisitions were finalized on September 30, 2025. In selecting which stores and prescription files to purchase, CVS prioritized maintaining convenience and ensuring uninterrupted access to essential prescriptions for local communities. Most CVS locations that received prescription transfers are situated within 3 miles of a former Rite Aid, with nearly half located within a mile, in an effort to uphold the company’s commitment to continuity of care.

Ahead of the acquisition, CVS Pharmacy has hired more than 3500 former Rite Aid and Bartell Drug workers to join the team. Additionally, the company has made investments in existing CVS Pharmacy locations, which include additional support, enhanced recruitment and hiring, and training programs.

References

1. CVS Pharmacy completes acquisition of Rite Aid assets nationwide. News release. CVS Health. October 15, 2025. Accessed October 15, 2025. https://www.cvshealth.com/news/retail/cvs-pharmacy-completes-acquisition-of-rite-aid-assets-nationwide.html

2. What we’re reading: MA 2024 Star Ratings; Rite Aid files for bankruptcy; Kaiser Permanente workers reach tentative agreement. AJMC^®. October 16, 2023. Accessed October 15, 2025. https://www.ajmc.com/view/what-we-re-reading-ma-2024-star-ratings-rite-aid-files-for-bankruptcy-kaiser-permanente-workers-reach-tentative-agreement

3. Murphy T. CVS polishes off deal to buy former Rite Aid stores, prescription files. ABC News. October 15, 2025. Accessed October 15, 2025. https://abcnews.go.com/Business/wireStory/cvs-polishes-off-deal-buy-former-rite-aid-126545990

4. Nayak A. How pharmacy deserts are putting the health of Black and Latino Americans at risk. STAT. November 10, 2023. Accessed October 15, 2025. https://www.statnews.com/2023/11/10/cvs-rite-aid-walgreens-pharmacy-deserts/