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WBA completes AmerisourceBergen transaction

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DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) has finalized the sale of its Alliance Healthcare businesses to AmerisourceBergen. The $6.5 billion deal included $6.275 billion in cash (subject to a customary net cash and working capital adjustment) and 2 million shares of AmerisourceBergen common stock. WBA said it will use the cash proceeds to reduce debt and accelerate the growth of its core retail pharmacy and health care businesses.

Roz Brewer

Rosalind Brewer

 

The company has used a portion of the funds to repay the outstanding amount owed on a $3.8 billion term loan that funded the bond tender completed by the company on April 26, 2021. This has eliminated $3.3 billion in debt from the company’s balance sheet. The remaining net cash proceeds are planned to be invested in strategic opportunities and to expand healthcare offerings to help accelerate the company’s growth strategy.

These investments will further build on previously announced initiatives, including WBA’s investment in VillageMD to support the opening of 600-700 Village Medical at Walgreens primary care clinics, as well as WBA’s acquisition of a majority stake in iA, a leading-edge provider of software-enabled pharmacy automation solutions.

“Completion of this transaction represents a significant step forward in our transformation and will fuel investments to grow WBA’s core retail pharmacy and health care businesses,” said Rosalind Brewer, CEO, Walgreens Boots Alliance. “Through these and other investments, WBA looks to bring even more innovative healthcare offerings to our customers and patients, as we further accelerate our strategic priorities.”

WBA and AmerisourceBergen will also execute on the expansion and extension of commercial agreements that are expected to drive incremental growth and synergies.


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