Recently, Walgreens Boots Alliance (WBA - Free Report) signed a retail health clinical collaboration and services deal as well as a retail pharmacy-oriented transaction with Novant Health. Per the agreement, Walgreens will acquire nine of Novant Health’s retail pharmacies.
Novant Health, a leading healthcare provider with 15 medical centers across more than 640 locations, specializes in offering innovative medical treatments.
This collaboration is in line with Walgreen’s commitment toward offering affordable and convenient healthcare facilities to residents of North Carolina.
More About the Deal
Once the deal closes, Novant Health patients can avail their prescriptions at the acquired Walgreens pharmacy locations or any neighborhood Walgreens stores.
The new Walgreens clinics will widen access to quality healthcare for people suffering from minor illnesses and injuries. The retail clinics will be branded “Novant Health Express at Walgreens” and will be served by advanced practice clinicians and nurses of Novant Health. These clinics will ensure patients in North Carolina access to services like chronic care follow-ups, without necessitating any prior appointment. This will thereby inflate Walgreens’ customer base
The preliminary locations are anticipated to open in the early half of 2020, with consistent expansion in North Carolina over two years.
Recent Strategic Collaborations by Walgreens
Walgreens continues to add complementary capabilities through targeted collaborations. The latest on the list is the extension of its partnership with Kroger (KR - Free Report) . Per the terms, Walgreens-owned brand health and beauty products will be offered at 17 Kroger stores in Knoxville, TN, from fall 2019. This tie-up extension is aimed at strengthening Walgreens’ market presence.
Earlier this year, Walgreens and Microsoft Corp collaborated to establish new healthcare delivery models and accelerate retail technology that would enhance the future of the healthcare business.
A Glance at Walgreens’ Competitors Forging Alliances
Lately, several leading companies have been inking partnership deals to bolster their business prospects.
In January, Walgreens’ major peer CVS Health (CVS - Free Report) announced that it has signed a multi-year agreement with Walmart, per which the latter will continue partaking in the CVS Caremark pharmacy benefit management (PBM) commercial and Managed Medicaid retail pharmacy networks.
Rite Aid (RAD - Free Report) in collaboration with InTouch Health, has launched RediClinic Express, a leading telehealth company that provides healthcare professionals with solutions to deliver virtual care with expertise.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>