Walgreens is spending nearly $1.4 billion to buy the remaining stake in Shields Health Solutions it doesn’t already own as it pushes into the fast-growing specialty pharmacy business.
The drugstore chain hopes to close on the remainder of the company by the end of the year. Walgreens started building a minority investment in the privately held Shields in 2019 and that stake reached about 70% last year.
The 10-year-old company helps health systems set up and run specialty pharmacies, which manage medications for people with complex and chronic medical conditions. Shields, based in Stoughton, Massachusetts, just south of Boston, works with nearly 80 health systems that represent about 1,000 hospitals nationwide.