Rite Aid has announced plans to shed further assets and “partially sell” its Health Dialogue business to CareNet Health, which offers a variety of patient engagement businesses.
Carenet will add a business to Health Dialogue that provides “personalized population health solutions.” Carenet is a provider of “health care engagement, clinical support, telehealth and advocacy solutions,” the company said.
Rite Aid said in an announcement Wednesday that under the terms of the asset purchase agreement, CareNet will purchase Health Dialogue's “Nurse Advice Line, chronic care management solutions, shared decision-making solutions, and customer agreements related to these services.” '', he said.
Rite Aid, which filed for bankruptcy protection in October, is restructuring and selling some of its businesses. Rite Aid announced in January that it had sold its pharmacy benefit management (PBM) company Elixir to another PBM, MedImpact Healthcare Systems, for $575 million.
Financial terms of the partial sale of Health Dialog were not disclosed. Rite Aid said Health Dialogue's “adherence management and medication therapy management solutions” are not included in the proposed transaction with CareNet. “Rite Aid is integrating these into its clinical services,” the company said in a press release.
“This transaction, combined with the recent sale of Elixir Solutions, positions Rite Aid's portfolio as a core part of our company's future,” said Jeffrey S. Stein, Rite Aid's Chief Executive Officer and Chief Restructuring Officer. “It underscores our commitment to aligning around leading healthcare products, services and solutions.” He said. “As we move through the restructuring process, we are implementing growth and profitability initiatives, and our future business focus is on building a portfolio of high-performing stores, a leaner supply chain, and more efficient operations. We are making significant progress by implementing our plan. Model.”
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