Last year marked the 65th anniversary of CARE Pharmacies. It also represented another year of successful growth for the retail pharmacy cooperative chain.
In 2025 the company’s top line gained 2.6% to $1.93 billion, driven by higher pharmacy volumes, enhanced clinical services and strong partnerships with vendors and payers. During the year, CARE Pharmacies added 20 pharmacies to bring its total footprint to170 member-owned independent pharmacies located in 26 states and Washington, D.C.
“We continued to grow and demonstrated resilience in an environment marked by reimbursement headwinds, continued PBM pressures and supply chain disruptions,” said chief executive officer Mike Wysong, who added that the company’s continued growth reflects its commitment to attracting top independent pharmacy operators and to penetrating new markets. “This expansion not only broadened our reach but also strengthened our operating model, enabling us to deliver more personalized, high-touch care in underserved communities.”
Members who attended the company’s Annual Member Meeting last September in Williamsburg, Va., had plenty to celebrate in addition to the anniversary. According to Wysong, the event featured record attendance, innovative strategic partner meetings and inspiring speakers.
“It underscored our strong partnerships and highlighted the work we’re doing to guide CARE through its next phase of growth and help position our members for the new caregiver models that are on the horizon,” he said.
That strategic focus received a further boost last November, when Wysong joined top leaders from the National Association of Chain Drug Stores for a productive meeting with Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services (CMS), to discuss the growing role of pharmacies in improving Americans’ health and wellness.
An important factor in CARE Pharmacies’ recent growth has been its organizational structure as a cooperative chain, which has enabled it to welcome pharmacies from a range of trade classes with a wide variety of expertise. Wysong pointed out that such diversity helps fuel innovation but also requires a collaborative approach to initiative design and decision making.
“We address this through active member involvement at every level,” he explained. “Our board of directors, which is elected by our members, includes representatives from diverse pharmacy backgrounds, ensuring that a variety of perspectives shape our strategic direction.”
In addition, the Annual Member Meeting serves as a key forum for open dialogue, strategic exchanges and member feedback on initiatives, which allows CARE to tailor programs to meet specific member needs while bringing benefits to the entire membership. “By fostering this member-driven collaboration, we not only navigate challenges but also create scalable solutions that empower our members to thrive,” Wysong said.
Looking ahead, Wysong’s top priorities include ongoing expansion of the CARE Pharmacies network and further member empowerment. The focus will be on attracting more top independent pharmacies with the CARE Pharmacies operating model and superior efficiencies as well as innovative tools to promote better workflows and patient engagement.
“In addition, we’re emphasizing innovation in clinical services and technology adoption, including AI-driven efficiencies to address workforce challenges and rising drug costs, while expanding offerings in areas like biosimilars and GLP-1 therapies to meet evolving patient needs,” he elaborated.
Another top priority is to make further progress toward achieving federal provider status for pharmacists, a critical step in attaining recognition of pharmacy’s potential to improve health care access and patient outcomes. Last year the Equitable Community Access to Pharmacist Services Act (ECAPS) was introduced in both the House of Representatives and the Senate with the aim of making permanent certain COVID-era authorizations that allowed pharmacists to bill Medicare for such essential services as testing, vaccinations and chronic disease management.
Wysong: PBM Reform Could Be ‘Transformative’ Long Term
This year began on a triumphant note for CARE Pharmacies and the entire retail pharmacy industry, as years of advocacy and grassroots efforts finally culminated in the passage of PBM reform legislation in early February. According to Mike Wysong, chief executive officer of CARE Pharmacies, the reforms will create a more transparent and equitable system that will strengthen independent pharmacies and ultimately allow them to invest in patient care, staff and clinical innovation.
In the near term, though, he cautioned that some operational adjustments will be needed as the industry adapts to new requirements, such as 100% pass-through of rebates to plans; PBM compensation that is delinked from drug prices; and enhanced reporting standards. However, the changes should result in better profit margin stability and improved cash flow for pharmacies.
Wysong further expects to see enforcement of “reasonable and relevant” contract terms that include fair dispensing fees and protection against onerous audits — both of which should help level the playing field for independent pharmacies.
“While there may be initial contract restructurings and compliance efforts, these reforms are poised to deliver quick relief from some of the most burdensome PBM practices, fostering a more collaborative environment,” he remarked. “Longer term, the impacts could be transformative for retail pharmacy’s sustainability and innovation. With greater transparency in networks and formularies, we expect reduced drug costs for patients, better access in underserved areas, and a shift in power toward pharmacies and plan sponsors.”
For CARE Pharmacies, Wysong added, this should all mean continued growth of the network, enabling members to expand their clinical services, enhance patient outcomes and invest in their communities. “We’re optimistic that these changes will not only stabilize but elevate independent pharmacies and ensure that they remain vital pillars of health care for years to come,” he said.
CARE Pharmacies Cooperative
KEY EXECUTIVE
Mike Wysong, CEO
HEADQUARTERS
1099 Winterson Road, Suite 110
Linthicum, Md. 21090
Phone: (866) CARE-RXS
Website: carepharmacies.com
trade class — Drug Chain
FULL-YEAR RESULTS
Pharmacy sales — $1.83 billion (+2.6%)
Overall sales — $1.93 billion
Number of stores — 170
Number of pharmacies — 170
Number of states operating — 26, plus D.C.
