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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.