Struggling Marsh exits pharmacy business; sells inventory and records to CVS
A trip to Marsh Supermarkets will no longer help you cross prescription drugs off your shopping list.
Marsh is closing its pharmacies after reaching a deal to sell its prescription records and drug inventory to CVS Health Corp. Marsh’s pharmacy operations will cease in May.
“CVS and Marsh will work together to ensure that pharmacy patients experience a seamless transition with no interruption of service,” CVS spokesman Mike DeAngelis said in an email. “Each Marsh location will have signage with the location of the nearest CVS Pharmacy. However, any CVS Pharmacy location will be able to fill prescriptions for Marsh’s pharmacy patients.”
Marsh did not respond to a request for comment. Terms of the deal were not disclosed.
The move comes as Marsh is looking to cut costs and increase cash flow amid competition from fast-growing rivals such as Kroger and Meijer. Indianapolis-based Marsh operated 86 stores as recently as 2014, but has steadily been closing underperforming stores since then.
Earlier this month, Marsh announced plans to close 10 more stores, which will bring its total down to 53 supermarkets across Indiana and Ohio.
Marsh will transfer prescription records to CVS and close its pharmacies by May 5