WBA - Walgreens Boots sells remaining Option Care Health stake for $330M

2023-06-08 23:44:21 ET

• Walgreens Boots Alliance ( NASDAQ: WBA ) sold 10.8 million shares of Option Care Health ( NASDAQ: OPCH ) for $330 million, exiting its stake in the home infusion provider.
• Walgreens ( WBA ) plans to use the proceeds mainly for debt paydown and continued support of WBA’s strategic priorities, according to a s tatement.
• The stake exit comes after Walgreens ( WBA ) s old 15 million shares of Option Care ( OPCH ) in March at a price of  $30.75 per share.
• Option Care ( OPCH ) was formerly Walgreens Infusion Services, before it was separated from Walgreens in 2015 in a joint investment partnership with Madison Dearborn and Walgreens Boots ( WBA ). Bioscrip and Option Care merged in 2019, with Walgreens and Madison Dearborn owning 80% of the combined company.
• The Walgreens Boots ( WBA ) stake exit comes as Option Care ( OPCH ) agreed to buy Amedisys ( AMED ) in a $3.6 billion stock deal last month, though Amedisys announced Monday that it received a $100 a share all cash offer UnitedHealth's Optum unit.

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