26
Mar
11

Walgreens increases online optical presence

Walgreen Co. plans to buy Drugstore.com, parent of VisionDirect.com and other online health and beauty sites, for about $409 million, the two companies announced yesterday. VisionDirect.com provides online contact lens replacement sales for large optical chains including LensCrafters and PearleVision. The company also partnered last fall with Prevent Blindness America for PBA’s Star Pupils program.

The transaction, expected to be completed by the end of June, will give 7,689-store Walgreens new exposure in the vision care market. It is part of an ongoing move by the drugstore chain to broaden its offering in the health care field by providing additional services to its customers beyond pharmacy and sundries.

As Greg Wasson, Walgreens’ president and CEO, put it, the Drugstore.com deal “significantly accelerates our online strategy to leverage the best community store network in America by becoming the most convenient choice for health and daily living needs, whether customers shop online or in our stores.” He said the acquisition will provide his company with “immediate access to more than 3 million savvy, online loyal customers, and will allow us to move even closer to our existing customers through relationships with new vendors and partners.”
The transaction has already been unanimously approved by Walgreens’ board of directors, and Drugstore.com’s board is recommending that the company’s shareholders vote in favor of the deal.

Source: Vision Monday


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About Arthur De Gennaro


My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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