Walgreens reduces investment in Option Care

DEERFIELD - Walgreens Boots Alliance Inc. said it has sold 11 million shares of Bannockburn-based Option Care Health Inc.'s common stock in an underwritten secondary offering.

After the sale, Walgreens Boots Alliance's ownership of Option Care Health's common stock has decreased from approximately 20.5% to about 14.4%, the company said.

Walgreens Boots Alliance intends to use the proceeds primarily for debt paydown and the continued support of the company's strategic priorities.

The sale represented about 6% of its current shares outstanding, said Option Care, the nation's largest independent provider of home and alternate site infusion services. The company employs over 7,500 team members, including about 4,500 clinicians, who work to elevate standards of care for patients with acute and chronic conditions in all 50 states.

"(Tuesday's) action is consistent with our strategic priorities and enhances our balance sheet flexibility while generating a strong return on our Option Care Health investment," said Rosalind Brewer, CEO of Walgreens Boots Alliance.