Walgreens Buys Assets of Medly Health for Over $19 Million

In a deal that will result in the closure of the former Pharmaca Integrative Pharmacies, drugstore giant Walgreens has acquired the core business of Medly Health Inc. – the digital-pharmacy company that purchased Boulder-based Pharmaca in June 2021 and then filed for bankruptcy two months ago.

According to a Tuesday filing in the U.S. Bankruptcy Court for the District of Delaware, Walgreen Inc. — the Deerfield, Illinois-based subsidiary of holding company Walgreens Boots Alliance (Nasdaq: WBA) — will pay $19.35 million in cash for Medly’s prescription files, pharmacy inventory and intellectual property, including its trademarks and logos.

In a statement issued Wednesday, Walgreens spokeswoman Kris Lathan said Walgreens will close the Pharmaca locations, which include stores rebranded as Medly Pharmacy at 2700 Broadway and 645 S. Broadway in Boulder. Another store at 17th and Pearl streets closed in 2020. A spokeswoman in the Pharmaca home office in Boulder told BizWest on Thursday that the stores in Boulder will be closed Feb. 25.

Read the source article at greeleytribune.com