Rite Aid Announces Results of First-Ever Rite Aid Innovation Challenge

CAMP HILL, Pa.--(BUSINESS WIRE)-- Rite Aid’s first-ever Innovation Challenge has selected the Tri-Tip Walking Cane, an ergonomic walking cane, for development and sale in Rite Aid stores and online at www.riteaid.com. Created by Jamie Jordan, an engineer based in Grapevine, Texas, the Tri-Tip Walking Cane features three legs that function independently for added stability and also uses a spring-loaded, shock absorbing system, alleviating hand, wrist, shoulder and back pain commonly associated with use of a traditional walking cane.

“We congratulate and thank Jamie for participating in Rite Aid’s first-ever Innovation Challenge,” said David Abelman, Rite Aid executive vice president of marketing. “Rite Aid is excited to introduce the Tri-Tip Walking Cane to customers as part of our existing home health care offering, and we think it will be well received by patients and customers who use canes, as well as caregivers, as a safe solution for maintaining daily mobility.”

Rite Aid’s Innovation Challenge yielded more than 700 submissions from both Rite Aid associates as well as consumers. All submissions went through an extensive eight stage evaluation process conducted by Edison Nation Medical. Rite Aid partnered with Edison Nation Medical, a leader in consumer and healthcare innovation, to conduct a nationwide search for original product ideas to improve the health and wellbeing of Rite Aid customers.

“We are pleased that Rite Aid has selected the Tri-Tip Walking Cane as the first product to be introduced to their customers,” explained Gregg Smith, Edison Nation Medical partner and chief investment officer. “Creating more effective, efficient and safer healthcare through open innovation is Edison Nation Medical’s stated mission and Rite Aid’s adoption of the Tri-Tip Walking Cane is a perfect example of that mission being brought to life.”

Rite Aid expects the product to be available to customers in stores and online at www.riteaid.com later this year.

Edison Nation Medical is a healthcare innovation marketplace with deep expertise in open innovation, product development, and healthcare. Born out of collaboration with Carolinas HealthCare System (one of the largest public health systems in the United States), Edison Nation Medical's mission is to break down the barriers to healthcare innovation. We make this a reality by providing a clear and easy pathway through our open innovation platform for anyone — physicians, nurses, entrepreneurs, even patients and caregivers — to submit a medical invention idea for full evaluation and potential commercialization. Edison Nation Medical innovation headquarters is in Charlotte, NC with satellite offices in San Francisco and New York City. For more information, please visit www.EdisonNationMedical.com or find Edison Nation Medical on Twitter, Facebook, and LinkedIn.

Rite Aid Corporation (NYSE: RAD) is one of the nation's leading drugstore chains with nearly 4,600 stores in 31 states and the District of Columbia and fiscal 2015 annual revenues of $26.5 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160229006083/en/

Rite Aid Corporation
MEDIA:
Ashley Flower, 717-975-5718

Source: Rite Aid Corporation

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