Osco/Sav-on Alumni Club

2018 March 3rd & 4th; Arizona Brunch & Walker Open

Details: Published: Monday, March 05 2018 07:24

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Well, this was the magical weekend for the Walker Cup Golf Event and the Annual Arizona Sunday brunch, which were organized and operated by Stan Petersen and John McGovern for the golf outing and Tom Nielsen for the magical brunch. The golfing weather was sunny and perfection at the Dove Valley Golf Course which was the venue for the annual outing. Twenty five golfers and 10 plus lunch onlys gathered at the course grill for the tasty lunch being provided. Everything went well except for one slight hiccup when Frank Stock thought the bowl of cold slaw was an individual serving. After some negotiation, Frank let the bowl goal in exchange for a second hamburger patty.....everyone happy. The golf was thoroughly enjoyed by all, regardless of the questionable results. Amazing that these people raise children. A large number of the visitors went out for dinner on Saturday evening at Charlestons in Scottsdale and the party continued. Again, it went well except for a small misstep when the waite spilled hot au jus on Curt Larsons shirt and pants. It looked good on the North Dakota boy.

As the Sunday sun climbed in the southwest sky, 40 plus gathered at Tonto Verde Country Club for a delicious annual brunch. The conversations were certainly the high points and it is so good to see the likes of Jack and Bev O'Connell, Terry and Susan Hanson, Haven and Paula Ready and Jerry Gonyo......Wanda White, Bob and Joyce Potter, Curt Larson, were others who took their time to travel to see ole friends. How do you go wrong with mimosas, omelets, scramble eggs, potatoes, bacon, chicken fruit salad, breads and desserts. Wow.

Once again our thanks to those involved in the timely process of organizing these great events......when you see them, you wonder how they did it...............................

Read about and view the entire weekend's events in the upcoming edition of the Connections Newsletter

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2018 February 20th: Albertsons to acquire Rite Aid, go public

Details: Published: Wednesday, February 21 2018 03:26

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For perhaps the second time in his long career, Bob Miller may be a white knight for Rite Aid shareholders. Albertsons has agreed to merge with Rite Aid as part of a $24 billion deal that will take the privately-held grocer public.

“The hallmark of Albertsons Companies’ business has been to become the favorite local supermarket of our customers,” Miller, current Albertsons chairman and CEO who led a turnaround at Rite Aid in the early 2000s, said. “We have always put our customers first, and our combination with Rite Aid will enable us to even better serve the valuable pharmacy customer by providing a fully integrated one-stop-shop for our customers’ food, health, and wellness needs. I have long known the excellent management team at Rite Aid, and we share a singular focus on superior customer service and a clear vision and strategy to become the favorite local supermarket and pharmacy to shoppers in every neighborhood we serve.”

Current Rite Aid chairman and CEO John Standley will become CEO of the combined company, with current Albertsons’ Miller serving as chairman. The combined company is expected to be comprised of leadership from both companies and will be dual headquartered in Boise, Idaho, and Camp Hill, Pa. The companies said the name of the combined company will be determined by transaction close.

“This powerful combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers’ evolving food, health, and wellness needs,” John Standley, chairman and CEO, Rite Aid, said. “The combined platform positions Rite Aid to capitalize on our pharmacy expertise and expand and enhance our pharmacy footprint. We are confident that delivering improved customer experiences and value will drive growth and profitability while creating compelling long-term value for shareholders.”

The integrated company will operate approximately 4,900 locations, 4,350 pharmacy counters and 320 clinics across 38 states and Washington, D.C., serving more than 40 million customers per week. Most Albertsons pharmacies will be rebranded as Rite Aid, and the company will continue to operate Rite Aid standalone pharmacies.

The companies said the combination is expected to leverage a strong pharmacy network and Rite Aid’s PBM, EnvisionRxOptions, to drive significant customer growth. The Albertsons/Rite Aid combo will be positioned to drive incremental growth by deepening existing relationships and expanding reach across higher-value pharmacy customers. This will be achieved, according to an investor presentation, through a full suite of health-and-wellness capabilities, including specialty pharmacy offerings and in-store RediClinics in larger Albertsons Companies stores and stand-alone Rite Aid stores. In addition, investing in preferred relationships with EnvisionRxOptions, other PBMs, and regional payors is expected to drive prescription growth.

The new company — which is expected to be traded on the New York Stock Exchange following the close of the deal — also will have an expanded footprint and be ranked first or second in 66% of the top metropolitan areas in the United States and will be ranked first or second in 70% of pharmacy locations. It will establish the leading integrated food, health and wellness retailer on the West Coast and will have a strong brand position in the Northeast.

Other benefits associated with the proposed merger include:

Leveraging loyalty programs and data to drive growth and find new customers. The new company will capitalize on enhanced data and analytics to unlock profitable growth through new customer acquisition, new merchandising programs, and demand forecasting, Albertsons and Rite Aid said. It also will create cross-branded opportunities for its loyalty programs, which currently have a combinedbase of 25 million active participants;
Bringing manufacturing and distribution to bear on own brands. Combining Albertsons’ billion-dollar private-label brands — which include O Organics and Lucerne — and its manufacturing and operating capabilities, with such Rite Aid health-and-wellness own brands as B4Y and Daylogic, as well as its pharmacy expertise, will allow the combined company to drive growth opportunities and efficiencies across its purchasing, marketing, manufacturing, and merchandising functions, the companies said; and
Strong omnichannel capabilities. The two companies’ expanding omnichannel platform will provide customers with convenience, choice, and flexibility through multiple in-store formats, digital channels, and same-day food and prescription delivery options from stores and via Drive Up & Go.

Under the terms of the agreement, in exchange for every 10 shares of Rite Aid common stock, Rite Aid shareholders will have the right to elect to receive either one share of Albertsons common stock plus approximately $1.83 in cash or 1.079 shares of Albertsons stock.

Depending upon the results of cash elections, upon closing of the merger, shareholders of Rite Aid will own a 28% to 29.6% stake in the combined company, and current Albertsons shareholders will own a 70.4% to 72% stake in the combined company on a fully diluted basis. Immediately following completion of the merger and assuming that all Rite Aid shareholders elect to receive shares plus cash, Albertsons will have approximately 392.9 million shares outstanding on a pro forma and fully diluted basis.

Albertsons is backed by an investment consortium led by Cerberus Capital Management, which also includes Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners and Schottenstein Stores Corporation.

The board of directors will be comprised of nine directors, four of whom will be named by Albertsons (including Bob Miller and Lenard Tessler, vice chairman and senior managing director at Cerberus), four of whom will be named by Rite Aid (including John Standley) and one of whom will be a jointly selected director.

A majority of the board will be independent. Lenard Tessler will serve as lead director.

The transaction has been approved unanimously by the boards of directors of both companies. The merger is expected to close early in the second half of calendar year 2018, subject to the approval of Rite Aid’s shareholders, regulatory approvals and other customary closing conditions.

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2017 December 15: McKesson’s Dimos takes the reigns of Health Mart

Details: Published: Saturday, December 23 2017 09:44

McKesson mainstay Chris Dimos has been promoted to president retail solutions for McKesson U.S. Pharmaceutical and Specialty Health, where he will assume responsibility for Health Mart, following the departure of former Health Mart president Steve Courtman. Courtman is now senior vice president of Cigna Pharmacy for Cigna.

Dimos has long been a champion of independent pharmacy, noting in an interview earlier this year that the independent pharmacy business model is still strong.

“Independent pharmacies play a very integral role in patient care and provide a great network of care in their communities," he said. "Independent pharmacists are willing to work with their patients as they go through, either, a journey to stay well, or through any sort of sickness. They are able to help them manage their complex medication regimens and to become more compliant toward better outcomes.”

"Independent pharmacies play a very integral role in patient care and provide a great network of care in their communities.”

And while reimbursement pressures challenge all pharmacy models, Dimos continues to be bullish on an independent's ability to compete. "There are opportunities now to maximize reimbursement based on your performance and the independent will have the opportunity to exploit those opportunities."

Dimos has helped drive the continued development of McKesson's U.S. retail efforts, which in addition to Health Mart includes Access Health and the CPG team. Dimos joined McKesson in 2013 as part of the corporate strategy and business development team. In 2016, he assumed responsibilities for marketing for the McKesson U.S. Pharmaceutical division.

Dimos came up through the retail pharmacy ranks as a staff pharmacist and held several leadership positions prior to becoming president Supervalu pharmacies and non-food merchandising. He graduated from the Purdue University School of Pharmacy and Pharmaceutical Sciences. He also earned an MBA from Indiana University School of Business and completed the Kellogg Business School Management Executive Program and Cornell University Management Program.

With a passion for representing pharmacy and making a difference in the industry, Dimos has served on the boards of the National Association of Chain Drug Stores, Mirixa and the NACDS Foundation. He is currently a member of the NACDS Policy Council, the Purdue University School of Pharmacy and Pharmaceutical Sciences Dean's Advisory Council and the University of Minnesota College of Pharmacy National Board of Advisors.

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