Walgreens Boots Alliance stated Tuesday its plan to accumulate the remaining 45% stake in CareCentrix lower than two months after turning into the house well being firm’s majority proprietor.
The Deerfield, Illinois-based firm is paying a complete of $722 million to rapidly increase its presence within the trade. Walgreens accomplished its preliminary $330 million take care of CareCentrix in late August, taking a 55% share within the firm that helps transition sufferers from hospitals to their houses. The remaining stake will price the corporate $392 million and the transaction is predicted to shut by March 2023, based on a information launch.
CareCentrix coordinates dwelling look after 19 million members by 7,400 supplier areas. The corporate will stay a definite entity inside Walgreens after the deal is accomplished.
“Our full acquisition additional accelerates our transformation to change into a consumer-centric healthcare firm, leveraging revolutionary platforms that stretch our capabilities into fast-growing segments of healthcare,” Walgreens CEO Roz Brewer stated within the information launch.
CareCentrix CEO John Driscoll will change into govt vp and president of U.S. healthcare at Walgreens later this month. The house well being profit agency’s chief monetary officer, Steve Horowitz, will lead CareCentrix as CEO.
This deal additional solidifies the pharmacy chain’s rising healthcare footprint. In September, the corporate agreed to spend $1.37 billion to purchase the remaining stake in specialty pharmacy firm Shields Well being Options. Final 12 months, the corporate’s well being phase invested $5.2 billion in primary-care startup VillageMD to change into the bulk proprietor.