Walgreens Acquires Pharmacy Company Shields Health Solutions
Walgreens Boots Alliance, Inc. (WBA), the holding company that owns the retail pharmacy chain Walgreens, has announced a new majority investment for Shields Health Solutions valued at $970 million. Shields Health Solutions is a specialty pharmacy that partners with hospitals and health systems to provide integrated care management for special disease states. Over the last two years, Shields has rapidly expanded its platform, representing more than one million specialty patients across more than 30 disease states, with more than 70 health system partners nationwide.WBA will acquire approximately 71% ownership of Shields, with an option to acquire the remaining equity interests in the... Read More »
Centric Buys Specialty Pharmacy Network
Centric Health Corporation (TSE: CHH) is on its way to becoming the largest specialty pharmacy company serving seniors in Canada, thanks to its recently announced acquisition of Remedy Holdings Inc. The price is approximately US$27.2 million. This is the second deal in March 2020 targeting special services for seniors. Early in the month, NaviHealth acquired Innovative Healthcare Delivery IHD delivers a high-touch, patient-centric and non-clinical approach that is paired with proprietary workflow and patient engagement technology to help seniors to better understand and participate in their care plans. In February, Guardian Pharmacy Services added to its Florida holdings with... Read More »
Guardian Pharmacy Buys Long-Term Care Business
Guardian Pharmacy of Jacksonville, a locally owned member of Atlanta-based Guardian Pharmacy Services (GPS), has acquired the long-term care division of Atkinson’s Pharmacy, which offers compound and specialty pharmacy services for the long-term care industry, including an electronic medical records system for clients. Terms of the deal were not disclosed. GPS is one of the nation’s largest long-term care pharmacy companies, with 37 locations in 26 states. Its local-autonomy business model allows local teams to focus on the specialized needs of customers in their communities. Guardian’s corporate support team assists with day-to-day business operations. The Jacksonville... Read More »
KKR’s PharMerica Makes Its First Deal
In late May, specialty pharmacy company PharMerica Corporation announced its first acquisition since being acquired by KKR & Co. (NYSE: KKR), with a minority investment from Walgreens Boots Alliance (NASDAQ: WBA), in August 2017. The company priovides institutional and community-based pharmacy services in the United States. When KKR took it private for $1.3 billion, it had trailing-12 month revenue of approximately $2.4 billion and EBITDA of $138 million. In December 2018, KKR announced a $1.3 billion deal for BrightSpring Health Services, then owned by Onex Corporation (ONEX.TO). BrightSpring, formerly known as ResCare, provides comprehensive home and community-based health services... Read More »