Walgreens to Buy Out the Rest of Shields Health in $1.37 Billion Deal

Walgreens is finishing its acquisition of Shields Health in a new deal worth $1.37 billion. The pharmacy giant, which already owns 71% of Shield Health, will buy the remaining shares of the company. Shields is a specialty pharmacy that provides therapeutics to 30 health systems. The move will come with a bit of an executive shakeup.

According to Annie Burky, “John Lucey will move from his current position as president to the role of CEO at Shields, which will continue as a distinct brand under Walgreens. Current CEO Lee Cooper will take on a new executive role within WBA. The two have worked together for a decade to develop the company, which delivered sales growth of 57% in the first nine months of the 2022 fiscal year.”

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(Source: Fierce Pharma, September 20^th, 2022)