Walgreens Boots sells remaining Option Care Health stake for $330M
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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 WBAâs strategic priorities, according to a statement.
The stake exit comes after Walgreens (WBA) sold 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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