CARE Pharmacies
CARE Pharmacies
CARE Pharmacies Cooperative (CARE) is a member-owned pharmacy cooperative and the 15th largest regional drug chain in the United States. As of January 31, 2023, the company had 130 member-owned locations in 23 states, including the District of Columbia.
In 2021, CARE was named the Regional Drug Chain of the Year by Chain Drug Review.[1] Recognized as one of the fastest growing drug chains in the country, CARE was ranked #17 on the “Hot 100 Retailer” list by the National Retail Federation for three consecutive years. [2][3][4][5]
CARE was founded in Maryland in 1960 under the name Circle Drug Inc. and is headquartered in Linthicum, Maryland.[1]
OVERVIEW
CARE Pharmacies provides access to consumer goods and services, pharmacy services, specialty medication services, and other health and wellness services in the United States through its independent retail and specialty drugstores. CARE had 130 member-owned independent retail and specialty pharmacies as of January 31, 2023. Up until 2012, CARE Pharmacies was the sole-source provider and administrator for the AIDS Drug Assistance Program (ADAP) or the DC 1115 Medicaid Waiver Program in Washington, DC[6].
HISTORY
Founded in 1960 as Circle Drug Inc., the organization began with 14 founding pharmacies located in Maryland and Virginia. By 1970’s the number of Circle Drug locations doubled. In 1999, CARE Drug Centers, Inc., was formed and CARE began to operate as a franchisor, offering pharmacy franchises to independently owned and operated retail and specialty pharmacies.
TIMELINE
In 2001, CARE Drug Centers became CARE Pharmacies Inc., and the new organization became the sole-source provider and administrator for the AIDS Drug Assistance Program (ADAP) or the (DC 1115 Medicaid Waiver Program) in Washington, DC. CARE Pharmacies located within the District of Columbia would dispense HIV related prescription medications to the underinsured and uninsured individuals in the District of Columbia dealing with HIV or AIDS.[7]
In 2006, CARE Pharmacies Inc. became a wholly owned subsidiary of Pharmacy Management Services Incorporated.
By 2010, CARE Pharmacies Inc. had 50 locations.[8]
On September 7, 2010, Michael Wysong was named the CEO.[9]
On June 1, 2012, CARE Pharmacies Inc. became CARE Pharmacies Cooperative Inc. In the same year, the National Retail Federation recognized CARE as the 6th fastest growing retailer in the country, with more than 85 locations in eight states including the District of Columbia.[10]
As of January 1, 2013, CARE Pharmacies Cooperative had 130 locations.[11]
In 2020, in response to the global health crisis COVID-19, CARE Pharmacies played an active role in both federal and state vaccination efforts, working closely with organizations National Community Pharmacist Association (NCPA) and National Association Chain Drug Stores. (NACDS) [12][1]
By 2021, sales had expanded from $156 million in 2010 to nearly $1 billion.[1]
In May 2022, The nation’s largest independent health care accreditation organization, URAC announced a strategic partnership with CARE Pharmacies.[13]
REFERENCES
- ↑ 1.0 1.1 1.2 Schiffner, Bill (January 13, 2022). "CARE heralded as Regional Chain of the Year". Chain Drug Review. Retrieved May 23, 2023.
- ↑ "NRF | Hot 100 Retailers 2018". nrf.com. Retrieved 2023-05-24.
- ↑ "NRF | Hot 100 Retailers 2019". nrf.com. Retrieved 2023-05-24.
- ↑ "NRF | Hot 100 Retailers 2020 List". nrf.com. Retrieved 2023-05-24.
- ↑ Staff, URAC (2022-05-23). "URAC & Care Pharmacies Cooperative Announce Partnership". URAC. Retrieved 2023-05-24.
- ↑ "Department of Health Care Finance - DHCF". D.C. Gov. Retrieved May 20, 2023.
- ↑ "Indie pharmacy capitalizes on D.C. area". Drug Store News. Retrieved 2023-05-24.
- ↑ "Indy franchisees a model of pharmacy 'Care' in nation's capital". Drug Store News. Retrieved 2023-05-24.
- ↑ "Wysong joins CARE Pharmacies as CEO". Drug Store News. Retrieved 2023-05-24.
- ↑ "CARE Pharmacies joins NASP as founding corporate member". Drug Store News. Retrieved 2023-05-20.
- ↑ Woldt, Jeffrey (2023-04-25). "Wysong assumes chairmanship at NACDS". CDR – Chain Drug Review. Retrieved 2023-05-24.
- ↑ Hippensteele, Alana (Nov 19, 2020). "NCPA, NACDS Applaud HHS for Including Pharmacies in the COVID-19 Vaccine Program". NCPA, NACDS Applaud HHS for Including Pharmacies in the COVID-19 Vaccine Program. Retrieved May 20, 2023.
- ↑ Staff, URAC (2022-05-23). "URAC & Care Pharmacies Cooperative Announce Partnership". URAC. Retrieved 2023-05-24.
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