Walgreens Boots Alliance Takes Full Control Of CareCentrix

Retail pharmacy chain Walgreens Boots Alliance Inc (NASDAQ:WBA) has agreed to acquire the remaining 45% stake in CareCentrix for $392 million.
CareCentrix provides care coordination and outsourced benefit management services for the home care industry.
WBA's 55% majority investment in the company closed on August 31, 2022.
"We continue to see strong results and potential for growth from our partnership with CareCentrix. Our full acquisition further accelerates our transformation to become a consumer-centric healthcare company, leveraging innovative platforms that extend our capabilities into fast-growing segments of healthcare," said Roz Brewer, CEO, WBA.
In WBA's FY21, CareCentrix delivered pro forma sales of $1.5 billion. It currently manages care for more than 19 million members through over 7,400 provider locations.
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The 100% acquisition deal is expected to close by March 2023.
CareCentrix will continue as a distinct business and brand within Walgreens following the acquisition.
Also, CareCentrix CEO John Driscoll will assume a new role as executive vice president and president, U.S. Healthcare at WBA, including Walgreens Health, later this month.
CareCentrix CFO Steve Horowitz will assume the role of CareCentrix CEO.
Price Action: WBA shares are trading higher by 3.23% at $32.87 on the last check Tuesday.

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