Walgreens Completes Acquisitions

Walgreens Completes Acquisitions
May 02, 2008

Deerfield, Ill.-based Walgreen Co. has completed its acquisitions of Chadds Ford, Pa.-based I-trax Inc., parent company of CHD Meridian Healthcare, and privately held Cleveland-based Whole Health Management--together the two companies operate more than 350 worksite health centers. The acquired companies' services include primary and acute care, wellness, pharmacy and disease management services and health and fitness programming. Combined with Walgreens wholly owned subsidiary and convenient care clinic manager, Take Care Health Systems, they will form the platform for the new Walgreens Health and Wellness division. I-trax/CHD Meridian and Whole Health will combine to operate under the name Take Care Employer Healthcare Solutions. "Our official entry into the health-care services and wellness space marks a very exciting day for our shareholders, customers and employees," said Jeffrey A. Rein, chairman and CEO of Walgreens. "We believe our leadership position in pharmacy, trusted health care brand and goal of 10,000 points of care by 2012 will give us opportunities to meaningfully address the access issues that currently challenge the U.S. health care system." On March 17, Walgreens had announced its intent to acquire I-trax in a cash transaction valued at approximately $278 million, including the assumption of debt. Walgreens also announced on March 17 its agreement to acquire Whole Health Management; terms of the deal were not disclosed.

June 01, 2007 - Source:

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