Rite Aid (NYSE: RAD) and Envision Pharmaceutical Services ("EnvisionRx") today announced that they have entered into a definitive agreement under which Rite Aid will acquire EnvisionRx, a portfolio company of leading global private investment firm TPG, in a transaction valued at approximately $2 billion, which includes the value of an expected future tax benefit of $275 million. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Rite Aid will pay approximately $1.8 billion in cash and $200 million in Rite Aid stock, or approximately 27.9 million shares. EnvisionRx is a national, full-service pharmacy benefit management (PBM) company with projected 2015 calendar year revenues of approximately $5 billion and projected 2015 calendar year EBITDA in a range of $150 to $160 million. The company provides both transparent and traditional PBM options through its EnvisionRx and MedTrak PBMs, respectively, as well as pharmacy-related services to clients across the nation. EnvisionRx also offers fully integrated mail-order and specialty pharmacy services through Orchard Pharmaceutical Services; access to the nation's largest cash pay infertility discount drug program via Design Rx; an innovative claims adjudication software platform in Laker Software; and a national Medicare Part D prescription drug plan through Envision Insurance Company's EnvisionRx Plus product offering.
Keith Richards has guest edited this month’s issue of Bauer Media’s monthly music bible, MOJO magazine.
It is the first time the legendary rocker has guest edited a UK magazine.
Excited by the opportunity, Keith commented: “It’s been a real privilege to be MOJO’s Guest Editor, thanks you guys. What a great idea. I’ve really enjoyed it. Good luck to the next editor! I seem to have left the office in an awful mess. But it was real fun. I’ve always loved MOJO, it’s always been a straight-up chat with you guys. That’s what I admire. It’s been a pleasure.”
Editor John Mulvey added: “It isn’t often that an editor can be excited about losing their job, but I’m honoured to hand over the MOJO reins this month to Keith Richards. As well as one of the greatest musicians Britain has ever produced, Keith is a passionate scholar of rock, a man of significant wealth and taste. He’s brought a deep love and knowledge of rock’n’roll, the blues, reggae, funk and much more to this very special issue of our magazine; MOJO couldn’t have been put in safer hands.”
more at: https://www.bauermedia.co.uk/newsroom/press-releases/keith-richards-guest-edits-mojo-magazine