Health

Is Walgreens Sale Of U.K. Boots Pharmacies Finally Near?

Walgreens Boots Alliance sale of its Boots pharmacies in the UK is seemingly close to if the newest media reviews out of London and India are right.

The Financial Occasions reported final week {that a} “binding bid may are available in as early as (final) Friday” for Boots from Apollo World Administration and Reliance Industries, which is owned by Indian industrialist and billionaire Mukesh Ambani. The report follows different media hypothesis that Walgreens in Might gave potential bidders extra time to make their provides for the Boots chain, which has greater than 2,000 pharmacies.

In the meantime, Walgreens executives at their headquarters within the northern Chicago suburb of Deerfield have publicly been quiet concerning the destiny of Boots whereas the pharmacy big focuses spending billions of {dollars} on its U.S. operations. There was no announcement final Friday confirming the Apollo-Reliance effort.

Walgreens is spending billions of {dollars} on its U.S. drugstore operations on the path of chief government officer Roz Brewer, who took over as CEO final 12 months. Walgreens has invested greater than $6 billion in main care developer VillageMD to escalate the growth of doctor-staffed clinics throughout the U.S. underneath a brand new “Walgreens Well being” enterprise.

In April, Brewer advised analysts and buyers Walgreens was opening a brand new VillageMD clinic connected to a drugstore “each three days.”

The bigger funding Walgreens made final 12 months was designed to speed up the opening of no less than 600 Village Medical at Walgreens main care practices in additional than 30 U.S. markets by 2025 and 1,000 by 2027, with greater than half of these practices in medically underserved communities, the corporate has mentioned.

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