Posted September 26, 2018 03:25:22 The company behind the world’s most popular mobile drugstore, Roadrunner Pharmacy, has announced it has agreed to acquire the largest pharmacy in the United States, Merrick-Davis Pharmacy in the city of Chicago, for an undisclosed amount.
The company also plans to acquire a number of smaller chains, including a pharmacy in New Jersey and a pharmacy that caters to older adults in New York.
The transaction is subject to regulatory approvals, according to Roadrunner.
The deal is subject a number obstacles, including an agreement to share the company’s intellectual property, the acquisition price, and how Merrick and Davis will be paid for the drug.
“We have been looking for a pharmacy to partner with and we are thrilled to be able to work with Roadrunner on this first-of-its-kind acquisition,” Merrick Davis CEO Matt Miller said in a statement.
The Merrick deal will not affect Merrick’s plans to partner more broadly with other pharmaceutical companies in the coming years.
Roadrunner CEO Andrew Saks said in the statement that the company is confident the Merrick acquisition will accelerate Roadrunner to become a leader in the industry.
“Roadrunner will continue to leverage its strategic expertise in the pharmacy industry and we will work with the Merricks to make our pharmacy products accessible to patients,” Saks added.
RoadRunner’s acquisition comes on the heels of other recent deals between Merrick, including acquiring the pharmacy chain Aetna in 2016 and the drugstore chain Rite Aid in 2017.
Roadrunners pharmacy, located in the heart of the Chicago suburb of Oak Park, is currently the most visited in the country and has about 400 locations, according the company.
Merrick acquired the pharmacy last year, and Roadrunner has since moved the location to the Chicago suburbs.
Merricks acquisition will bring the company a total of about $2.6 million in cash, and the acquisition of the pharmacy comes just weeks after Merrick announced a $5.3 million acquisition of BMO Harris Bank.
Road Runner said it is working with Merricks management team to finalize details of the acquisition.