Walgreens In Talks To Buy Evolent Health: Bloomberg

  • Walgreens Boots Alliance Inc WBA is reportedly mulling an acquisition of Evolent Health Inc EVH.
  • Citing people familiar with the matter, Bloomberg reported that the talks are ongoing, and there is no certainty Walgreens will move forward with an offer to buy the company.
  • Walgreens previously said it was focused on making strategic investments to build on its core pharmacy business. 
  • Last week, it made a $970 million investment to acquire a majority stake in specialty pharmacy company Shields Health Solutions
  • EVH is a healthcare IT services company, while WBA operates a chain of pharmacies.
  • The potential takeover could give Walgreens an edge over the competition in the drugstore space as more retail sales shift online.
  • Activist investor Engaged Capital disclosed a nearly 10% stake in Evolent in August 2020 and pushed it to explore ways to create value, including through a partial or complete sale. 
  • Read Next: Stock Wars: CVS Health Vs. Walgreens Boots Alliance.
  • Price Action: EVH stock traded 0.73% higher at $29.15 premarket on the last check Thursday, and WBA stock closed 1.29% higher at $48.71 on Wednesday.
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