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Express Rx Set to Buy 10 Fred’s Pharmacy Locations

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An Arkansas-based regional pharmacy chain is partnering with a wealth management fund to buy 10 Fred’s pharmacy locations in five Southeastern states

Express Rx, headquartered in Little Rock, and MHR Fund Management are joining together to acquire pharmacies in Alabama, Kentucky, Louisiana, Mississippi and Texas.

“This is an important milestone in our company’s proud history,” Galen Perkins, Express Rx CEO, said in a statement “We welcome the opportunity to provide high-quality healthcare to Fred’s customers and their communities.”

The transaction is projected to be closed in early November following the satisfaction of the asset purchase agreement’s conditions. The terms of the transaction have not been disclosed.

The Fred’s pharmacies are set to continue to operate at their current location and will be rebranded as Express Rx pharmacies after the acquisition closes. In an email, Perkins told Arkansas Money & Politics that the goal of the transition it to execute it in a “seamless” manner with “as few disruptions as possible to the customer experience.”

In an email, Perkins told Arkansas Money & Politics that the purchase was motivated by the company’s goal of “providing quality health care services.”

Perkins says the acquisition “will allow Express Rx to continue to grow so we may better serve our customers in all aspects of patient care.” While he says there are no current plans to buy more Fred’s pharmacy locations, the company is planning to “expand across the southeast.”

The list of pharmacies that Express Rx is acquiring is listed below:

  • Fred’s Pharmacy, 303 N. Hood St., Lake Providence, Louisiana
  • Fred’s Xpress, 705 Plank Rd. Hwy. 128, Saint Joseph, Louisiana
  • Fred’s Pharmacy, 2001 W. Court St., Winnfield, Louisiana
  • Fred’s Pharmacy, 1068 Hwy. 61 N., Tunica, Mississippi
  • Fred’s Xpress, 801 E. Jackson Rd., Union, Mississippi
  • Fred’s Xpress, 101 W. Sweet Potato St., Vardaman, Mississippi
  • Fred’s Pharmacy, 251 S. Washington St., Ripley, Tennessee
  • Fred’s Pharmacy, 211 South Main St., Morgantown, Kentucky
  • Fred’s Pharmacy, 1128 Second Ave. NE, Fayette, Alabama
  • Fred’s Xpress Pharmacy, 1360 Military St. S., Hamilton, Alabama

READ MORE: Fred’s Filing Bankruptcy, Closing All Retail Locations After Rough Year

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