A year after buying a majority share of specialty pharmacy services provider Shields Health Solutions, Walgreens will pay $1.37 billion for the remaining 30 percent stake.
Shields partners with about 80 U.S. health systems, representing about 1,000 hospitals, to integrate specialty pharmacy services, according to a Sept. 20 news release from Walgreens Boots Alliance.
In September 2021, Walgreens paid Shields $970 million for 71 percent of its shares. The total acquisition is expected to finalize by the end of 2022.
"Our full acquisition of Shields will complete another major milestone as part of our consumer-centric healthcare strategy to drive sustainable long-term growth, and we are very pleased with our partnership and integration with Shields," Walgreens Boots Alliance CEO Roz Brewer said in the release. "We can now make further progress on our strategy through Shields' integrated model, increasing our value to health systems, expanding access to payer partners and supporting improved outcomes and lower costs."