Walgreens Boots Alliance to acquire majority stake in CareCentrix Deal will boost Walgreens Health launch
By HME News Staff
Updated 12:51 PM CDT, Thu October 14, 2021
HARTFORD, Conn. – Walgreens Boots Alliance is acquiring a majority share of CareCentrix, investing $330 million for a 55% stake.
The deal will boost Walgreens capabilities in post-acute and home care, in support of its launch of Walgreens Health, a customer-centric, technology-enabled care model powered by a nationally scaled, locally delivered health care platform.
“COVID-19 has made it clear that providing care in the home and community is the future of not only post-acute care, but health care more broadly,” said John Driscoll, CEO of CareCentrix. “Indeed, the home is the last undeveloped frontier in American health care and critical to reversing spiraling costs and middling health outcomes. Together, Walgreens and CareCentrix will be able to partner with a wide range of payers to help care for patients from the hospital to the home in a more personalized, engaged, and effective way.”
CareCentrix manages care for 19 million members through approximately 7,400 provider locations. By partnering with health plans and health systems, CareCentrix has reduced total cost of care for members by 20%, including a greater than 11% reduction in emergency department usage and a 23% reduction in skilled nursing costs.
Following completion of the investment, CareCentrix will continue to operate as an independent company under its current executive leadership.
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