NEW YORK (TheStreet) -- Shares of Rite Aid Corp. (RAD) are up 1.29% to $5.48 after the retail drugstore chain announced an agreement with HealthSpot Inc., a healthcare technology company specializing in the integration of telehealth and primary care.
The company aims to provide convenient healthcare services via private, walk-in HealthSpot stations inside select Rite Aid locations.
Rite Aid will pilot the HealthSpot stations in the greater Akron/Canton, Cleveland and Dayton/Springfield markets.
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HealthSpot stations will offer customers convenient access to high-quality, medical care from board certified medical providers using high-definition videoconferencing and interactive medical devices, according to the company.
Using the HealthSpot station, customers can be treated for minor and common health conditions, including cold and flu, rashes and skin conditions, eye conditions, earaches and seasonal allergies, the company added.
Separately, TheStreet Ratings team rates RITE AID CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate RITE AID CORP (RAD) a HOLD. The primary factors that have impacted our rating are mixed--some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including relatively poor performance when compared with the S&P 500 during the past year and poor profit margins."