Katie O'Brien
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Katie O'Brien in Senior Content Editor,

​Rite Aid to Acquire EnivisonRx

Drugstore giant Rite Aid (NYSE: RAD) will acquire pharmacy benefit management company EnvisionRx in a $2 billion transaction, according to Forbes. The transaction itself will be divided 90/10, with Rite Aid paying 90 percent in cash and 10 percent in Rite Aid stocks (27.9 million shares), Forbes reported.

Some project this acquisition will boost company earnings for Rite Aid, evidenced by a 10 percent increase in Rite Aid stock since the announcement, Forbes reported. After CVS, (NYSE: CVS) which acquired Caremark Rx almost 10 years ago, Rite Aid is the second largest drugstore company to acquire a pharmacy benefit management company.