Cleary Gottlieb represented CareCentrix Inc. (CareCentrix) in the sale of a majority of its equity interests to Walgreens Boots Alliance Inc. (WBA).
The transaction signed on September 4, 2021, and the first-stage closing occurred on August 31, 2022.
WBA is investing approximately $330 million for 55% of CareCentrix at an $800 million valuation, net of debt, with the option to acquire the remaining equity interests in the future.
CareCentrix is the leading independent home-centered platform that coordinates care to the home for health plans, patients, and providers, and manages care for 19 million members through approximately 8,000 provider locations. In WBA’s fiscal year 2021, CareCentrix delivered pro forma sales growth of $1.5 billion.
WBA is a global leader in retail and wholesale pharmacy, with over 100 years of trusted health care heritage and innovation in community pharmacy and pharmaceutical wholesaling. Including equity method investments, WBA has a presence in more than 25 countries, employs more than 440,000 people, and has more than 18,750 stores.
For more information, please see the press release here.