Stillwater NewsPress

Local News

July 10, 2012

Pharmacies’ status unclear after purchase

By Chris Day Stillwater NewsPress

STILLWATER, Okla. — The status of the May’s Drug and Med-X Drug stores in Stillwater and Cushing remains unclear Tuesday after Walgreen Co. announced plans last week to purchase the stores’ parent company — USA Drug.

Thursday, Walgreen Co. announced its acquisition of the USA Drug regional drugstore chain from Stephen L. LaFrance Holdings, Inc., and members of the LaFrance family.

The transaction includes 144 stores operated under the USA Drug, Super D Drug, May’s Drug, Med-X and Drug Warehouse brands in Oklahoma, Arkansas, Kansas, Mississippi, Missouri, New Jersey and Tennessee.

It also includes corporate offices and a distribution center in Pine Bluff, Ark., and a wholesale and private brand business. The purchase price is $438 million. The chain recorded sales of $825 million in 2011.

Representatives at the Med-X drugstores in Cushing and Stillwater referred questions to the company’s corporate offices.

The sale must meet regulatory requirements. It is expected to be finalized in September.

The affected drugstores will continue to operate under their current brand names for now, according to a press release from Walgreen Co. After the transaction closes, Walgreen Co. officials will determine how to “harmonize” Walgreens stores and the 144 stores in this purchase.

“The acquisition expands our business in an important region of the country,” Walgreens President/CEO Greg Wasson said. “It will provide significant new pharmacy business for us in this region while also enabling us to bring the Walgreens experience to many additional smaller communities where USA Drug has developed strong operational expertise.”

Walgreens operates a drug store on South Main Street in Stillwater.

There’s a Med-X drugstore on Main Street in Cushing and one on Perkins Road in Stillwater.

CVS is building a 13,225-square-foot drugstore at the corner of Hall of Fame Avenue and Main Street in Stillwater.

Text Only | Photo Reprints
Local News
Stilly Studio
  • Savory_Stilly_Studio_05_01_13.jpg Savory crosses off goals with fifth album

    “I love the high energy stuff,” he said. “Even though it’s country, being able to rock it up, distorted guitars and just seeing the crowd, feeding off of that.”

    May 2, 2013 1 Photo

NewsPress Specials
AP Video
Raw: Trucker Bumps I-5 Bridge Before Collapse Raw: Texas Deputy Shot by Colo. Suspect Honored Major Detours Following Wash. Bridge Collapse American Held in Grisly Czech Murders Raw: Jersey Shore Reopens for Summer UK-bound Pakistan Plane Diverted, 2 Men Arrested Officials: Tsarnaev Friend Linked to Slaying Obama:Sexual Assault Threatens Trust in Military Bridge Collapse Survivor: 'Rough Day' Jersey Shore Open for Business Raw: Memorial Day Flags Placed at Arlington New Wheelchair Lift Promises More Access First Person: Mom Discusses Famous Tornado Photo Raw Video: Washington State Bridge Collapse Boy Scouts Approve Plan to Accept Gay Boys
Stocks