One of the best-known pharmacy names in the Twin tiers and nationwide might be on the verge of disappearing.
In a merger worth over $17-billion, Walgreens announced Tuesday that it’s buying Rite-Aid.
They’re the nation’s second and third largest pharmacy chains that combined have nearly 13-thousand stores.
The deal still must pass antitrust review.
Industry analysts say it’s another sign of increased consolidation in health care as the industry changes due to the affordable care act and an aging population.
Rite-Aid stores would keep their names “initially,” but Walgreens plans to create what they call “a fully harmonized portfolio of stores” over time.