Walgreens Boots Alliance detected by Sycamore Partners for 23.7 billion | EUROtoday

Future technique

The group, as reported by the be aware, will hold the headquarters in Chicago and can proceed to function with the Walgreens manufacturers, Boots and the opposite client manufacturers. “We are focused on the desire to make the provision of health care more effective, convenient and accessible while we face the challenges of a rapidly evolving pharmaceutical industry and an increasingly complex and competitive retail world” mentioned the CEO Tim Wentworth, which provides: “Despite the progress in our ambitious relaunch strategy, a creation of significant value will require time, concentration and changes that will a private context. Sycamore will provide us with the experience and skills of a partner with a solid record track of renovations in the retail sector ».

The group’s press release currently does not provide details on the future employment of the 311,000 employees of the pharmacies chain After the transfer of ownership to Sycamore Partners.

«Sycamore has great respect for the talent and dedication of the WBA employees and undertakes to enhance the company’s iconic brands. This operation reflects our trust in the pharmaceutical model of WBA and in its essential role in improving results for patients, customers and communities, “mentioned Stefan Kaluzny, Managing Director of Sycamore Partners.

Walgreens’ difficulties

The acquisition takes place in a fragile context for Walgreens, concerned in a case supposed by the United States Department of Justice, which in January accused the chain of getting distributed for years thousands and thousands of unlawful opioid prescriptions. According to the accusation, ranging from 2012 Walgreens would have mistakenly launched thousands and thousands of necessities for opioid medicine that dependence, then requesting reimbursements to authorities well being applications.

In September 2024, Walgreens agreed to pay a penalty of 106.8 million {dollars} For violating the False Claims Act, having invoiced well being applications for prescriptions by no means withdrawn from sufferers.