Rite Aid (NYSE: RAD) has announced its acquisition of Bartell Drugs for $95 million. Bartell Drugs, established in 1890, generates over $550 million in revenue and fills approximately 5.5 million prescriptions annually via its 67 stores in the Seattle area. This acquisition enhances Rite Aid's presence in the growing Seattle market, aligning with its RxEvolution strategy. The transaction is expected to be accretive to Rite Aid's adjusted earnings per share within the first year. Updated fiscal 2021 guidance includes capital expenditures of $300 to $325 million and free cash flow between $60 million and $135 million.
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MobilityWorks has appointed Bryan Everett as its new CEO, succeeding the founder Bill Koeblitz, who transitions to Chairman. Everett, previously COO of Rite Aid Corporation (RAD), aims to enhance MobilityWorks' market position as the largest provider of wheelchair accessible vehicles in the U.S. Under Koeblitz's leadership since 1997, the company expanded from 73 to 93 locations due to Flexpoint Ford's investment. This leadership change aligns with ongoing strategic growth initiatives, focusing on improving client solutions and team experiences.