Sixteen months after Walgreens Boots Alliance concluded a disastrous relationship with Theranos, the now-defunct Silicon Valley blood-testing company, the pharmacy giant has linked up with LabCorp, one of the world's largest clinical laboratory operators.
The once-heralded blood-testing startup Theranos is shutting down, according to a media report. Theranos was unable to sell itself and is now looking to pay unsecured creditors its remaining cash of about $5 million in the upcoming months.
When Detroit Medical Center sold its seven hospital outpatient pharmacies to Walgreens earlier this year, DMC pharmacy managers warned that Walgreens at DMC had no contractual relationship with several major insurers for hundreds of DMC patients.
By launching telehealth visits via its app, CVS Health is playing catch up with Walgreens, which has offered virtual visits for more than three years.
Walgreens Boots Alliance on Thursday reported that third-quarter earnings jumped more than 15%. But its stock price fell more than 9% after Amazon announced it's buying PillPack, an online pharmacy that delivers prescriptions.
The Detroit Medical Center has sold its retail and outpatient pharmacies to Walgreens Co. as part of a pharmacy reorganization. The deal encompasses seven specialty pharmacy sites and one mail-order business, Crain's has learned.
Providers should not expect to see lower drug prices from a potential Walgreens Boots Alliance and AmerisourceBergen Corp. deal, analysts say.
Walgreens will close about 600 stores, mostly Rite Aid locations, beginning next spring as it starts integrating stores purchased from the rival with its own locations.
Walgreens Boots Alliance is poised to revise its agreement to buy individual Rite Aid Corp. stores, a move that may be enough to resolve outstanding antitrust concerns and clinch U.S. approval for a deal the companies have been pursuing in different forms for two years.
As healthcare companies rush to bulk up via mergers and acquisitions, they're almost always hit with shareholder lawsuits. Now that Walgreens has given up on its efforts to buy rival drugstore chain Rite Aid, it should ready itself for membership in the growing club of defendants.
Walgreens has ended its takeover pursuit of rival Rite Aid following resistance from U.S. regulators and will instead now buy stores, distribution centers and inventory in a new deal with the chain.
Piedmont Healthcare has agreed to take over and operate 27 Walgreens in-store clinics in the Atlanta metropolitan area. Piedmont joins systems in other states which have bought or leased retail clinics meant to provide fast, convenient care for patients with minor ailments.