By OPEN MINDS Circle
Walgreens Boots Alliance (WBA) entered a definitive agreement to acquire the remaining 45% stake of CareCentrix for approximately $392 million. WBA currently owns 55% of CareCentrix in a deal that closed on August 31, 2022. The full acquisition is subject to limited customary closing conditions and is expected to close by March 2023. CareCentrix will continue as a distinct business and brand within WBA following the full acquisition.
CareCentrix provides care coordination and outsourced benefit management services for the post-acute and home care industry. It currently manages care for more than 19 million members through over 7,400 provider locations, offering a suite of services on an integrated basis to support home care models – including home nursing, durable medical equipment, home infusion and in-home palliative care. Its services are used to support value-based care on behalf of health plans and provider organizations. In WBA’s fiscal year 2021, CareCentrix delivered pro forma sales of $1.5 billion.
Current CareCentrix Chief Executive Officer (CEO) John Driscoll is assuming a new role as executive vice president and president, U.S. Healthcare at WBA, including Walgreens Health, in October 2022. CareCentrix’s current Chief Financial Officer, Steve Horowitz, will become CEO for CareCentrix.
WBA’s U.S. Healthcare encompasses integrations with WBA’s health care partners, including VillageMD, Shields Health Solutions and CareCentrix, as well as the organic Walgreens Health business, which focuses on population health through initiatives such as Walgreens Health Corners. Through U.S. Healthcare, WBA seeks to expand into larger, faster-growing profit pools that drive synergies across the care continuum, including provider enablement and managed service organizations, primary care, population health, home health, post-acute care, specialty pharmacy and retail pharmacy.
WBA is an integrated health care, pharmacy and retail leader. It has about 13,000 retail pharmacy locations across the U.S., Europe and Latin America. Its portfolio of consumer brands includes: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico and Ahumada in Chile. Additionally, WBA has a portfolio of healthcare-focused investments located in several countries, including China and the U.S.
Contact information: Media Relations, Walgreen Company, 108 Wilmot Road, Deerfield, Illinois 60015; 847-315-2921; Email: media@walgreens.com; Website: https://www.walgreens.com/; or Jim Cohn, Media Contact, Walgreens Boots Alliance, Inc., 108 Wilmot Road, Deerfield, Illinois 60015; 847-315-2921; Website: https://www.walgreensbootsalliance.com/