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Rite Aid raises $6.8 million for Children’s Miracle Network Hospitals

BY Michael Johnsen

CAMP HILL, Pa. — Rite Aid announced Monday that through its year-long fundraising efforts, the company raised $6.8 million for Children’s Miracle Network Hospitals in 2013, a record-breaking amount in the drug store chain’s 19 years of support for the charity. The money raised by Rite Aid funds care, research and equipment at 95 Children’s Miracle Network Hospitals in communities served by Rite Aid. 

“To surpass our previous fundraising record by nearly $1 million, truly shows how committed Rite Aid associates are to supporting their local Children’s Miracle Network Hospitals,” said Ken Martindale, Rite Aid president, COO and president of the Rite Aid Foundation. “Thank you to all Rite Aid associates for another successful campaign and your continuous dedication towards delivering on our core value of being a caring neighbor.” 

“Rite Aid amazed us once again with another record-breaking fundraising campaign in 2013, truly delivering on their core value of being a caring neighbor,” stated John Lauck, Children’s Miracle Network Hospitals president and CEO. “Thanks to the generosity of Rite Aid associates, customers and supplier partners, Children’s Miracle Network Hospitals is able to fulfill its mission of saving and improving the lives of as many children as possible. We are so thankful for our ongoing partnership with Rite Aid and all they do throughout the year to help sick and injured children in the communities they serve.”

The 2013 campaign kicked off last spring with its annual Miracle Balloon fundraiser. Additional funds were raised through community fundraisers, including annual events like a motorcycle ride organized by the company’s Dayville, Conn., distribution center, a Zumba-thon hosted by the Rite Aid in Prestonburg, Ky., a motorcycle ride organized by Rite Aid associates in Salem, Ohio, and countless car washes, bake sales and golf tournaments. And members of Rite Aid’s management team help raise funds by dedicating a day each summer to washing cars and competing in various activities at the company’s headquarters in Camp Hill, Pa.

Since becoming a sponsor in 1994, Rite Aid has raised more than $64 million for Children’s Miracle Network Hospitals.

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OPI develops Coca-Cola-inspired nail polish

BY Antoinette Alexander

LOS ANGELES — OPI Products, a subsidiary of Coty, has collaborated with Coca-Cola to create a line of OPI nail lacquers inspired by several of the company’s most recognized brands, including Coca-Cola, Diet Coke, Coke Zero, Cherry Coke, Vanilla Coke, Sprite and Fanta.

The line of limited-edition nail lacquers will launch internationally in June.

“As the global leader in the professional nail industry, OPI is thrilled to partner with the world’s top beverage company, the Coca-Cola Co.,” stated Suzi Weiss-Fischmann, OPI co-founder and EVP. “These two iconic brands truly deliver happiness in a bottle — whether it’s a refreshing, invigorating sip of Coke, or a set of fingers and toes perfectly polished with OPI nail lacquer.”
 

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AmerisourceBergen invests in Brazilian wholesaler

BY Michael Johnsen

VALLEY FORGE, Pa. — AmerisourceBergen on Monday announced that it has reached a definitive agreement to acquire a minority stake in Profarma Distribuidora de Produtos Farmacêuticos S.A., a leading pharmaceutical wholesaler in Brazil. In addition, AmerisourceBergen and Profarma will establish a joint venture for specialty distribution and services. 

“We are very excited to partner with Profarma as we continue to expand our reach into growing international markets,” stated Steven Collis, president and CEO AmerisourceBergen. “With its long-term macroeconomic growth outlook, favorable demographics and increasing access to healthcare services and specialty pharmaceuticals, the Brazilian market affords us a tremendous opportunity to expand our international offerings. Profarma’s success in the wholesale distribution, chain and independent retail, and specialty markets, combined with our expertise in specialty distribution and manufacturer services provides a compelling opportunity to shape the delivery of healthcare in Brazil.”

The company expects to invest a total of approximately $100 million, and the transaction is expected to close in the June quarter of 2014.  

Sammy Birmarcker, CEO Profarma, highlighted the positive effects that the association with AmerisourceBergen should bring for the operations of Profarma Specialty, such as access to new medicines, equipment, services and practices that currently do not exist in Brazil. “We hope the country will soon be able to benefit from the technological advances that are already available to the specialty pharmaceutical distribution industry in more evolved markets abroad,” Birmarcker said. “We believe that the experience acquired by Profarma over the course of its 52 years of activities, combined with the technology and expertise of AmerisourceBergen in rendering new services, will provide a favorable environment for the development of Profarma Specialty in Brazil." 

AmerisourceBergen will purchase up to a 19.9% minority stake by offering Brazilian Real $22.50 per share (U.S.$9.68 per share) for shares offered in a primary offering by Profarma. The specialty distribution joint venture will include Profarma’s existing specialty businesses and an equity investment from AmerisourceBergen, and each company will own a 50% stake in the joint venture.

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