Medicine Shoppe International (MSI) Incorporated has acquired Medicap Pharmacies Incorporated, a chain of 181 community pharmacies with locations in 34 states all across the USA.

“While we have reached an initial agreement with Medicap, the transaction is likely to take a few weeks to finalize and secure the necessary regulatory approvals. While there will certainly be opportunities to consolidate operations, we are still learning about each other and it will take a little time to finalize all decisions about operations,” according to MSI president Bob Storch’s notification, emailed to its master franchisee, Melrose Trading Co. Pvt. Ltd.

Medicap is seen as a match with MSI because, its locations focus on personalized patient care and services, making the former’s integration into the latter’s network, for long-term strategic growth, according to an official release.

Both Medicap franchisees as well as Medicine Shoppe licensees are expected to benefit from even greater economies of scale, resources, and increased technology that this will provide.

Meanwhile, according to Medicap’s announcement on its website, Medicap Pharmacies Incorporated will now be a wholly-owned subsidiary of MSI. The company will continue to support both the Medicine Shoppe and Medicap Pharmacy brands.

The companies plan to continue to offer franchisees a business proposition that enables them to control their hours, select their location, and receive the financial and personal benefits of owning their own business. The result will be a network of more than 1,100 Medicine Shoppe and Medicap Pharmacy locations.

“Medicine Shoppe International represents a great opportunity for our franchisees, and the complementary nature of our businesses will also bring benefits to our patients,” said Bill Kimball, chairman and CEO of Medicap Pharmacies. “Through this opportunity, Medicap Pharmacies Incorporated will benefit from MSI’s depth of resources and buying power.”