October 1, 2021 3:50 a.m. 

In the KQEN Business Spotlight:

The Bi-Mart executive team and Walgreens have announced that they have entered into a definitive agreement pursuant to which Walgreens will acquire Bi-Mart’s pharmacy business.

A release said that includes the pharmacy patient prescription files and related pharmacy inventory of 56 Bi-Mart pharmacies located across Oregon, Idaho and Washington. Bi-Mart’s retail stores will remain open.

Prescription files from most Bi-Mart pharmacies will transfer to nearby Walgreens pharmacy locations. In areas where Walgreens does not have nearby stores, Walgreens will operate pharmacies within existing Bi-Mart locations under the Walgreens brand. That will be primarily in rural areas in Oregon.

Bi-Mart’s President and CEO Rich Truett said the decision, while difficult, is strategically important as the company seeks to strengthen its financial position and expand their plans for future growth in the northwest. Truett said, “Bi-Mart’s core business is healthy and strong, however over the years factors such as increasing costs and ongoing reimbursement pressure has led in part to our decision”. Truett said he looks forward to partnering with Walgreens to transition their pharmacy staff and members as seamlessly as possible.

Walgreens Regional Vice President Rob Ewing said he looks forward to welcoming Bi-Mart patients to Walgreens pharmacy services, as well as providing employment opportunities to Bi-Mart pharmacy associates in available positions.

The release said subject to customary closing conditions, the companies expect the prescription file transfers to begin this month and be complete by January of next year. Patients whose prescriptions are being transferred will be notified by mail.

Financial terms of the deal were not disclosed.