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Walgreens Boots Alliance is spending roughly $970 million to acquire a majority stake in Shields Health Solutions to expand its specialty pharmacy business, the companies said on Tuesday.
The investment brings Walgreens' total stake in Shield to 71%, and the company has an option to acquire the remaining equity interests in the future. The Illinois-based company had taken a minority stake in Shields in 2019.
Founded in 2012, Shields Health Solutions helps hospitals provide specialty pharmacy services.
Specialty pharmacies are designed to deliver medications with unique handling, storage and distribution requirements, often for patients with complex conditions such as cancer, multiple sclerosis or rheumatoid arthritis.
Sept 29 (Reuters) - Pharmacy chain Walgreens Boots Alliance Inc is considering an acquisition of healthcare IT firm Evolent Health Inc, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Shares of Arlington, Virginia-based Evolent rose as much as 18% after the report, before paring some gains to trade up nearly 9%.
The talks are ongoing and there is no certainty Walgreens will move forward with an offer to buy the company, according to the report https://bloom.bg/2ZyBi28.
Evolent declined to comment, while Walgreens did not immediately respond to a Reuters request for comment.
Walgreens previously said it was focused on making strategic investments to build on its core pharmacy business. It made a $970 million investment last week to acquire a majority stake in specialty pharmacy company Shields Health Solutions.
Evolent had a market value of $2.36 billion, based on Tuesday's close. The company reached an agreement with activist investor Engaged Capital last year to appoint a new director and create a new board committee. (Reporting by Manas Mishra in Bengaluru; Editing by Maju Samuel and Shounak Dasgupta)
DEERFIELD, Ill., October 07, 2021--(BUSINESS WIRE)--Walgreens Boots Alliance, Inc. (Nasdaq: WBA), in collaboration with Vitamin Angels, today announced that more than 300 million women and children around the world have received life-changing vitamins and minerals through their eight-year partnership. The two also announced a new goal: Reaching 500 million women and children by the end of August 2025, which is the end of WBA’s fiscal year.
First Published: Oct. 13, 2021 at 12:30 p.m. ET
Target has previously shortened its store hours because of the theft problem in the city
Walgreens Boots Alliance Inc. has announced that it will close five Walgreens stores in San Francisco in response to the rise in organized retail crime.
Walgreens says it will move prescriptions and workers from the shuttered stores to nearby locations. Prescriptions will go to stores within a one-mile radius.
“Retail theft across our San Francisco stores has continued to increase in the past few months to five times our chain average,” the company said in a statement.
“During this time to help combat this issue, we increased our investments in security measures in stores across the city to 46 times our chain average in an effort to provide a safe environment.”
Target Corp. TGT, +2.83% shortened the hours at its five San Francisco locations this summer because of the rise in theft.
Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report posted stronger-than-expected fourth quarter earnings Thursday as pharmacy and retail sales gains boosted the Dow component's bottom line.
Walgreens said diluted non-GAAP earnings for the three months ending in August, the Dow component's fiscal fourth quarter, were pegged at $1.17 per share, well ahead of the Street consensus forecast of $1.02 per share and a 14.75% increase from last year. Group revenues, Walgreens said, rose 12.8% to $34.3 billion, again topping analysts' estimates of a $33.3 billion tally.
Comparable store sales in the U.S. were up 8.1%, Walgreens said. Prescription fillings were up 8.8% from last year, while pharmacy sales rose 6.7%. The group also added that it provided 13.5 million COVID vaccinations over the quarter, taking its fiscal 2021 total to 34.6 million.
(Bloomberg) -- Walgreens Boots Alliance Inc. agreed to invest $5.2 billion in primary-care provider VillageMD, doubling its stake in the company to 63%.
The deal will increase the number of primary-care practices located at Walgreens chain stores to 1,000 by 2027, with more than half the practices located in underserved communities, the companies said in a joint statement.
Drugstores are under pressure to increase their offerings as e-commerce firms including retail giant Amazon.com Inc. make inroads into the pharmacy sphere. Walgreens is raising its profile in value-based primary care, a quickly growing segment of the health-care market worth about $1 trillion, according to the statement.
HARTFORD, Conn., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Today, CareCentrix, Inc. — the leading, independent home-centered platform that coordinates care to the home for health plans, patients, and providers — announced that Walgreens Boots Alliance (Nasdaq: WBA) has made a majority investment in the company.
The investment advances Walgreens capabilities in post-acute and home care, in support of its launch today of Walgreens Health, the company’s customer-centric, technology-enabled care model powered by a nationally scaled, locally delivered healthcare platform.
Walgreens Health will create a better experience for consumers, improve health outcomes and lower costs by leveraging Walgreens strengths and assets, including trusted consumer relationships and community presence, national scale, care teams and partnerships with payors and providers across the country.
DEERFIELD, Ill. & IRVING, Texas, November 30, 2021
Walgreens Boots Alliance (Nasdaq: WBA) and McKesson Corporation (NYSE: MCK) have today reached an agreement for WBA to acquire the remaining 30% share of their GEHE Pharma Handel (GEHE) and Alliance Healthcare Deutschland (AHD) joint venture.
Following this transaction, WBA will become the 100% owner of the combined GEHE and Alliance Healthcare businesses in Germany.
GEHE and AHD successfully combined their operations in the German pharmaceutical market on November 1, 2020. In that transaction WBA became the 70% owner of the joint venture with McKesson holding the remaining 30%.
Today’s announcement follows McKesson’s announcement in July 2021 of the sale of certain European businesses and its intention to exit the European region fully.
The American owners of Boots are poised to launch an auction of the high street pharmacy valuing the business at more than £5bn.
Walgreens Boots Alliance is set to instruct Goldman Sachs to review options for the 172-year-old retailer, which could include the sale of one of Britain’s best-known chains.
Boots could alternatively be floated on the stock exchange, according to Sky News, which first reported the hiring of investment bankers. Shares in Walgreens rose more than 4pc in New York on Friday.
City sources said that Walgreens’ offloading of Boots “has been coming for some time” after the American firm’s distribution arm in Europe was sold earlier this year.
The Nottingham-based company has a rich heritage dating back to 1849 when pharmacist John Boot opened his first herbal remedies store in the city.
Boots now has 2,200 stores in the UK and employs 55,000 people.
London-listed Alliance Boots was the subject of what was then Europe’s biggest buyout in 2007 when US private equity firm KKR defeated rival Terra Firma in a takeover worth £11bn.
Walgreens took a minority stake in the business nine years ago before completing its buyout in 2014.
Walgreens US operation has shifted towards healthcare rather than drugs as it comes under pressure from more agile tech insurgents such as Amazon.
DEERFIELD, Ill., December 17, 2021
With the fight against COVID-19 far from over, Walgreens and Harlem New York-based initiative for civic engagement, Faith for Black Lives, have come together to call upon churches to be community bullhorns for combatting persistent vaccine hesitancy and to drive the importance of COVID vaccination for children and young adults.
‘Shots for Tots’ combines Walgreens on-site vaccination clinics and vaccine literacy with programs happening at participating churches.
The effort kicks-off Dec. 18 and will continue in the coming weeks, with clinics to be held across 10 states.
Walgreens in the Spotlight on Reports Bain, other Firms Want to Buy Boots
Mon, January 3, 2022, 6:47 AM
Investing.com – Walgreens Boots Alliance stock (NASDAQ:WBA) is in the spotlight on a January 1 news report in London’s The Times that private equity firm Bain Capital expressed interest in acquiring the American pharmacy chain’s U.K. business, Boots.
According to the report, Bain approach Walgreens more than two months ago. Boots only owns about a quarter of its stores and may be worth up to $9.4 billion, according to the report.
Supermarket chains and other PE firms like CVC Capital Partners, Carlyle Group, KKR, Advent International, and Clayton, Dubilier&Rice may also be exploring an offer, the Times said.
For the fourth quarter ended August 31, Boots UK comparable pharmacy sales rose over 11% compared with the year-ago quarter, reflecting stronger demand for pharmacy services, notably Covid-19 tests. Comparable retail sales increased 15%, higher than the company’s as a whole.
Boots has been moving into other healthcare businesses, as online retailers become more competitive in the drugstore industry. Led by beauty, Boots has been its retail market share. Boots.com sales have more than doubled versus pre-covid levels.
Fueled by the pandemic, deal-making in the pharmaceutical and healthcare industry has boomed as people turn attention to taking better care of their health and firms explore tech-driven methods of servicing them.
Walgreens shares are flat pre-market. The company is set to report earnings for its fiscal year 2022 Q1 for the quarter ending November 30 on Thursday morning.
Walgreens Boots Alliance (WBA) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 24.44%. A quarter ago, it was expected that this largest U.S. drugstore chain would post earnings of $1.03 per share when it actually produced earnings of $1.17, delivering a surprise of 13.59%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Walgreens , which belongs to the Zacks Retail - Pharmacies and Drug Stores industry, posted revenues of $33.9 billion for the quarter ended November 2021, surpassing the Zacks Consensus Estimate by 2.71%. This compares to year-ago revenues of $36.31 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Walgreens shares have added about 3.5% since the beginning of the year versus the S&P 500's decline of -1.4%.
Architect of Boots takeover mulls new bid for chemist chain
The architect of Boots’ takeover deal in 2007 is mulling a new bid for the chemist chain as CVC Capital considers joining forces with Bain Capital.
The two private equity firms are exploring a multibillion pound offer for the 173-year-old retailer as its US owner, Walgreens Boots Alliance, considers offloading it.
Walgreens confirmed a strategic review into its ownership of Boots on Tuesday. It has been working with bankers at Goldman Sachs to examine offers for the Nottingham-based firm amid a renewed focus on the US market, although the review could also lead to a separate stock market listing. At the centre of a possible bid sits the CVC managing partner Dominic Murphy.
Fifteen years ago he helped orchestrate a deal for Boots in what was then Europe’s biggest leveraged buyout while working for KKR.
Mr Murphy, who is on the board of Walgreens, joined CVC in 2019. He would have to recuse himself from any board discussions at the pharmaceutical giant about a potential sale due to his roles. Mr Murphy is also on the board of THG, Matthew Moulding’s e-commerce company.
A sale of Boots, which may not happen as discussions remain at an early stage, would bring down the curtain on Stefano Pessina’s involvement with the chain.
Boots, which traces its roots to John Boot’s first Nottingham store in 1849, has more than 2,000 shops and is one of the UK’s best-known retailers.
In 2005, Richard Barker, Boots’ then chief executive, stunned the City with a £7bn merger with Mr Pessina’s AllianceUni Chem, ending more than 150 years of the British chain’s independence.
Just two years later, Mr Pessina, now chairman of Walgreens, took the company private in a £11bn deal backed by KKR. The takeover left Boots lumbered with £9bn of debt.
Mr Murphy then helped Mr Pessina and KKR sell a 45pc stake to Walgreens in 2012 in a £4bn deal, and the remaining 55pc in 2014 for £6bn.
CVC and Bain declined to comment.