Walgreens in talks to go private

Amy Baxter | | Health Exec | Policy & Regulations
Some patients with certain autoimmune diseases in some states are finding it difficult to obtain their prescriptions for methotrexate as a result of changing abortion care laws.

Walgreens Boots Alliance is reportedly in talks to take the company private, according to CNBC. The deal would be the largest leveraged buyout in history, and the news comes after Walgreens announced it was closing 160 in-store clinics it owns and operates.

Walgreens is the nation’s second-largest pharmacy retail store chain. One of the reported firms looking at the buyout is KKR, which purchased Boots Alliance in 2007 and stayed an investor when Walgreens acquired Boots Alliance, CNBC reported. Walgreens currently has a market cap of $55 billion, with about $17 billion in debt.

Walgreens has experienced a stock slide over the last year, and its change in strategy for in-store clinics is part of cost-cutting measures. Its peers are also becoming larger, after CVS Health acquired health insurer Aetna last year. Walgreens shares rose on Nov. 5 after news of the potential deal broke.

See the full story below:

Walgreens explores going private in what could be largest LBO in history

Amy Baxter
Amy Baxter

Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."

Related Content

Report: UnitedHealth under investigation by DOJ for Medicare Advantage upcoding
FDA approves first therapy for very rare lipid storage disorder
FDA announces Class I recall of Boston Scientific pacemakers—replacement may be necessary
FDA ends semaglutide shortage, closing the door on compounded Wegovy, Ozempic
American Heart Association highlights importance of NIH as battle over Trump funding cuts continues
Federal judge sides with FTC; case against PBMs to move forward

Around the web

Cardiovascular Business
American Heart Association highlights importance of NIH as battle over Trump funding cuts continues

“Now more than ever, we must recognize that our country’s leadership in groundbreaking medical research spurs scientific innovation, improves public health and creates new innovations that save and improve lives nationwide,” Joseph C. Wu, MD, PhD, explained in a statement. 

Cardiovascular Business
Cardiologist questions FDA’s approval process for high-risk medical devices

The technology used to diagnose, treat and manage cardiovascular disease is always evolving, keeping FDA officials quite busy. But have the agency's standards been slipping in recent years? A cardiologist with Cedars-Sinai Medical Center explored that very question.

Cardiovascular Business
FDA announces new recall of Johnson & Johnson heart pumps over safety concerns

No devices need to be returned at this time. However, the FDA warned, using these heart pumps without reviewing the updated instructions could result in "serious injury or death.”