Walgreens Positioning to Acquire Pharmacy Patient Prescription Files & Inventory of Fred’s Pharmacies In Southeast
Walgreen Boots Alliance (WBA), a recent addition to the Dow 30, is a pharmacy-led, health and wellbeing enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates.
Walgreens is reportedly now in a position to acquire the pharmacy patient prescription files and the related pharmacy inventory of 185 Fred’s stores across the Southeastern states in a definitive asset purchase agreement. In the current agreement, Walgreens will pay $165 million along with an amount that is equal to the value of the related pharmacy inventory.
Expected to be completed in the first quarter of calendar 2019, the deal comes a part of Fred’s earlier announced plan to unlock shareholder value by monetizing non-core assets through strategic transactions.
A letter will be sent to those patients whose prescriptions are being transferred. Upon completion of the transfer, the patients will have access to Walgreens pharmacy services across the company almost 9,800 pharmacies across the nation.
Richard Ashworth, Walgreens President of Operations stated, “This agreement increases patient access to Walgreens pharmacies in the Southeastern U.S., and allows us to introduce more people to Walgreens trusted pharmacy services in these communities. We look forward to welcoming Fred’s patients and team members who are hired into available Walgreens positions.“
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