Walgreens invests another $1.4 billion in Shields

DEERFIELD - Walgreens Boots Alliance Inc. said Tuesday it will accelerate plans for full ownership of Shields Health Solutions, a specialty pharmacy company doing business primary in hospitals.

WBA has entered into a definitive agreement to acquire the remaining 30% stake in Shields for approximately $1.37 billion, which is based on the price agreed upon at the time of WBA's 2021 investment in Shields.

WBA's full acquisition of Shields from other equity holders - including private equity firm Welsh, Carson, Anderson & Stowe; and founder and board Chairman Jack Shields - is expected to close by the end of the 2022 calendar year.

Shields is delivering strong financial performance, clinical excellence and value-add contributions to WBA's business, the pharmacy and retail drugstore chain said.

"Our full acquisition of Shields will complete another major milestone as part of our consumer-centric health care strategy to drive sustainable long-term growth, and we are very pleased with our partnership and integration with Shields," said Roz Brewer, CEO of WBA.

As an integrator of health system-owned specialty pharmacies, Shields has served more than 1 million patients, with nearly 80 health system partners representing approximately 1,000 hospitals nationwide.