Walgreens announces store acquisition

According to a story in the Caribbean Business from December 13th, 2007 "Farmacias El Amal vehemently denies the sale of the local pharmacy chain to CVS Caremark." Well as they say, that was then, this is now. But, of course, you have to give it to them, they were, in fact, telling the complete truth. They did not sell anything to CVS, it was, uhum, Walgreens. Yesterday Walgreens announced that "Acquisition of 20 Drugstores from Puerto Rico Pharmacy Chain Farmacias El Amal."

While there is no word, which of the 60 El Amal locations will be sold to Walgreens, they have already announced that the 20 stores will convert into becoming Walgreens. Area residents will continue to have access to pharmacy services at these 20 locations; i.e., customers will see the same employees in the stores. Once the agreement is finalized, work will begin on converting the El Amal stores to Walgreens, including remodeling and changing the store names. With the additional 20 stores, Walgreens will become the dominate pharmacy on the island with some 93 stores.

With this announcement, you have to wonder what the El Amal strategy has become. In the December article they claimed that expansion has their goal. Of course, maybe the price was right, which may also become the same situation if someone offers Saleh Yassin, president of El Amal pharmacies, the right price for the remaining 40 stores. Perhaps the strategy has become harvest. And while that would be a big disappointment int terms of having pharmacy options that are locally owned, one can hardly blame them.

3 comments:

Gabriel

18 de enero de 2008, 10:46
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dijo...

Well, I view Walgreens as a booze-less 7-11 so, more alternatives for buying trinkets and munchies.
As far as their pharmacy operations. I don't trust them. Way too many errors and way too slow. After I take my son or myself to the doctor I write in the Blackberry the prescription name and dosage. More often than not, Walgreens (Bairoa, Caguas) gave me wrong medicines or dosages, usually with a 4 hour delay. So I stopped usin them for that, there are plenty of local pharmacies.

Speaking Boricua

19 de enero de 2008, 19:54
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dijo...

As if Puerto Rico needs any more Walgreens!

Viejo

20 de enero de 2008, 08:07
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dijo...

It seems El Amal is betting the kitchen sink on a transformation of their business. I think strategically, its wise but I am not sure if anyone can pull off something that ambitious. I hope they do - despite their problems, PR needs more than just walgreens.