Walgreens Completes Acquisition of Kerr Drug’s Retail Drugstores and Specialty Pharmacy Business
November 08 2013 - 9:33AM
Business Wire
Transaction expands Walgreens presence in North
Carolina including smaller communities
Walgreen Co. (NYSE: WAG) (NASDAQ: WAG) announced today that it
has completed its acquisition of certain assets of Kerr Drug’s
retail drugstores and specialty pharmacy business. Financial terms
of the agreement were not disclosed. In fiscal year 2012, Kerr
Drug’s retail drugstores and specialty pharmacy business recorded
total sales of $381 million.
As previously announced in September, the acquisition is an
asset transaction and includes Kerr Drug’s retail drugstores,
specialty pharmacy business and a distribution center. Kerr Drug
retained ownership of its long-term care pharmacy business.
About Walgreens
As the nation's largest drugstore chain with fiscal 2013 sales
of $72 billion, Walgreens (www.walgreens.com) vision is to be the
first choice in health and daily living for everyone in America,
and beyond. Each day, Walgreens provides more than 6 million
customers the most convenient, multichannel access to consumer
goods and services and trusted, cost-effective pharmacy, health and
wellness services and advice in communities across America.
Walgreens scope of pharmacy services includes retail, specialty,
infusion, medical facility and mail service, along with respiratory
services. These services improve health outcomes and lower costs
for payers including employers, managed care organizations, health
systems, pharmacy benefit managers and the public sector. The
company operates 8,131 drugstores in all 50 states, the District of
Columbia and Puerto Rico. Take Care Health Systems is a Walgreens
subsidiary that is the largest and most comprehensive manager of
worksite health and wellness centers and in-store convenient care
clinics, with more than 750 locations throughout the country.
Cautionary Note Regarding Forward-looking
Statements: Statements in this press release that are not
historical are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Words such as “expect,” “likely,” “outlook,” “forecast,”
“would,” “could,” “should,” “can,” “will,” “project,” “intend,”
“plan,” “continue,” “sustain,” “synergy,” ”on track,” “believe,”
“seek,” “estimate,” “anticipate,” “may,” ”possible,” “assume,”
variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance and are subject to risks,
uncertainties and assumptions that could cause actual results to
vary materially from those indicated, including: the ability to
satisfy the closing conditions and consummate the proposed
transactions on a timely basis or at all, the ability to
successfully integrate the acquired business, the ability to
realize anticipated synergies, the ability to achieve anticipated
financial results, changes in vendor, payer and customer
relationships and terms, and other factors described in Item 1A
(Risk Factors) of Walgreens most recent Annual Report on Form 10-K
and Quarterly Report on Form 10-Q, each of which is incorporated
herein by reference and in other documents that Walgreens files or
furnishes with the Securities and Exchange Commission. Should one
or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date they are made. Except to the extent
required by law, Walgreens does not undertake, and expressly
disclaims, any duty or obligation to update publicly any
forward-looking statement after the date of this report, whether as
a result of new information, future events, changes in assumptions
or otherwise.
WalgreensMichael
Polzin847-315-2920http://news.walgreens.com@WalgreensNewsfacebook.com/Walgreens
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