(KAIT) - Walgreens announced in September that they are buying the pharmacy patients' prescription files and the related pharmacy inventory of 185 Fred’s stores across the southeast.
Under the agreement, Walgreens will pay Fred’s $165 million, according to a news release from Walgreens, which is subject to adjustment and an amount equal to the value of the pharmacy inventory.
Fred’s will continue to operate their retail stores at most of their locations once the pharmacies close.
Fred’s will also continue to operate 162 pharmacies across their nearly 600 stores, the release stated.
Staff at the pharmacies that are closing will be given the opportunity to apply for any available positions at Walgreens stores.
The release states that patients who prescriptions will be transferred will be notified by letter. Fred’s is alerting customers when they’re picking up their prescriptions