Pharmacy giant Walgreen Co. has said that it will buy two companies that operate work-site health centers, creating a new division to manage health centers and pharmacies at large companies. Walgreen, of Deerfield, IL, will buy Chadds Ford, PA-based I-trax for $278 million in cash, along with Whole Health Management of Cleveland for an unnamed price. I-trax already counts among its client roster such large employers as BMW of North America, Lowe's Co. and Toyota, while Whole health Management's clients include Continental Airlines and Sprint Nextel. With the closing of this acquisition, Walgreens will have a total of more than 500 work-site and retail clinic in 40 states. Ultimately, Walgreens is projecting that the market for work-site health centers and pharmacies could include more than 7,600 corporate campuses with 1,000 employees or more.
To learn more about the deal:
- read this Modern Healthcare piece (reg. req.)
- read this Walgreens press release
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