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 TwitterFacebook,
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.

Contacts

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