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Article: Medicine Shoppe to Purchase Medicap
- Article from:
- AP Online
- Article date:
- December 2, 2003
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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JIM SALTER, AP Business Writer
AP Online
12-02-2003
Dateline: ST. LOUIS
Medicine Shoppe International Inc., a chain of retail pharmacies, will acquire Medicap Pharmacies Inc. in a deal announced Tuesday.
Financial terms were not disclosed. The deal was expected to close by the end of the year.
Medicine Shoppe, based in St. Louis, is part of Cardinal Health Co. Medicine Shoppe operates about 1,000 pharmacies in the U.S. and 250 in six other countries. Des Moines, Iowa-based Medicap operates 179 pharmacies in 33 states. Medicine Shoppe and Medicap pharmacies are independently owned by franchisees.
Medicap, which is privately held, will operate as a wholly owned subsidiary of Medicine Shoppe ...