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© Reuters. FILE PHOTO: The Walgreens emblem is seen outdoors the shop in Occasions Sq. in New York, U.S., July 5, 2016. REUTERS/Shannon Stapleton
(Reuters) -Walgreens Boots Alliance mentioned on Tuesday it will purchase the remaining stake in specialty pharmacy firm Shields Well being Options for $1.37 billion.
Walgreens final 12 months spent $970 million to extend its stake within the firm to 71%, with an choice to accumulate remaining fairness pursuits sooner or later.
Specialty pharmacies are designed to ship medicines with distinctive dealing with, storage and distribution necessities, usually for sufferers with advanced situations corresponding to most cancers, a number of sclerosis and rheumatoid arthritis.
Based in 2012, Shields Well being Options helps hospitals present specialty pharmacy providers.
Walgreens has been searching for to shift its focus past drugstores, and final 12 months it raised its stake in main care supplier VillageMD to 63%.
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