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- Arbor_Drugs abstract "Arbor Drugs was a chain of drug stores based in Troy, Michigan.It was founded by Eugene Applebaum and Bruno Manni in 1974, when they merged five stores and incorporated the chain under the Arbor name. In 1986, the chain went public, opening on NASDAQ under the stock symbol ARBR. Through the years, the chain grew, by opening stores and acquiring rival chains, such as Sentry Drugs in 1986 and M&R in 1994. By 1992 the chain held a 27.6% market share in the Detroit area.In 1979, the chain was one of the first to offer computerized prescriptions, and by 1989, the entire chain's records were linked together. By 1994, half the chain's sales were pharmacy-related. A scandal broke out in July 1993 when it was revealed that the chain had overcharged the health insurance company Blue Cross and Blue Shield Association at least $17 million in prescriptions since 1988. The two sides later settled for $15 million, but only one year later, Arbor was once again involved in a controversy over overcharging Medicaid claims. Eventually, all charges, both criminal and civil, were dropped.By 1997, the drug store chain was the nation's eighth largest, having 207 locations throughout southeastern Michigan. Year 1997 revenues totalled $962.8 million.CVS Corporation announced on February 9, 1998 that it would be purchasing Arbor Drugs in a transaction estimated at $1.48 billion, and creating the largest chain drug retailer in the process. Although most Arbor Drug locations were converted to CVS, several of these stores were later shuttered by the CVS Corporation.".
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- Arbor_Drugs wikiPageExternalLink arbor-drugs-inc.
- Arbor_Drugs wikiPageExternalLink ai_n7656252.
- Arbor_Drugs wikiPageID "10203070".
- Arbor_Drugs wikiPageRevisionID "569435301".
- Arbor_Drugs hasPhotoCollection Arbor_Drugs.
- Arbor_Drugs subject Category:1974_establishments_in_Michigan.
- Arbor_Drugs subject Category:Companies_based_in_Troy,_Michigan.
- Arbor_Drugs subject Category:Companies_disestablished_in_1998.
- Arbor_Drugs subject Category:Companies_established_in_1974.
- Arbor_Drugs subject Category:Defunct_companies_based_in_Michigan.
- Arbor_Drugs subject Category:Defunct_pharmacies_of_the_United_States.
- Arbor_Drugs type Abstraction100002137.
- Arbor_Drugs type CompaniesBasedInTroy,Michigan.
- Arbor_Drugs type CompaniesDisestablishedIn1998.
- Arbor_Drugs type CompaniesEstablishedIn1974.
- Arbor_Drugs type Company108058098.
- Arbor_Drugs type DefunctCompaniesBasedInMichigan.
- Arbor_Drugs type Group100031264.
- Arbor_Drugs type Institution108053576.
- Arbor_Drugs type Organization108008335.
- Arbor_Drugs type SocialGroup107950920.
- Arbor_Drugs type YagoLegalActor.
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- Arbor_Drugs type YagoPermanentlyLocatedEntity.
- Arbor_Drugs comment "Arbor Drugs was a chain of drug stores based in Troy, Michigan.It was founded by Eugene Applebaum and Bruno Manni in 1974, when they merged five stores and incorporated the chain under the Arbor name. In 1986, the chain went public, opening on NASDAQ under the stock symbol ARBR. Through the years, the chain grew, by opening stores and acquiring rival chains, such as Sentry Drugs in 1986 and M&R in 1994.".
- Arbor_Drugs label "Arbor Drugs".
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