Walgreens Boots Subsidiary Makes $970 Million Investment in Shields Health
September 21 2021 - 9:51AM
Dow Jones News
By Chris Wack
Walgreens Boots Alliance Inc. said its wholly owned Walgreen Co.
subsidiary is making a majority investment in Shields Health
Solutions, a health system-owned specialty pharmacy care.
Walgreens Boots said the investment is for $970 million
investment, and builds on a minority equity investment made in July
2019.
The new investment gives Walgreens Boots 71% ownership of
Shields, with an option to acquire the remaining equity interests
in the future. Shields' other equity holders will also have the
option to require Walgreens Boots to purchase the remaining equity
interests, under the agreement.
Shields has more than 1 million specialty patients across more
than 30 states, with more than 70 health system partners
nationwide.
Following the completion of the majority investment, Shields
would continue to operate under current executive leadership and as
a distinct brand and entity.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 21, 2021 09:36 ET (13:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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