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Walgreens to explore sale of Shields Health for over $4 billion - Bloomberg News

FILE PHOTO: People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City

(Reuters) -Walgreens Boots Alliance is exploring a sale of specialty pharmacy company Shields Health Solutions, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The sale could be valued at more than $4 billion, the report added.

The U.S. pharmacy chain is working with advisers to assess the level of interest in Shields Health, the report said, adding that the specialty pharmacy company is expected to draw interest from private equity firms and healthcare companies.

However, no decision has been made so far and Walgreens could hold onto the business, according to the report.

Walgreens declined to comment on the reported sale.

In 2022, Walgreens had bought the remaining stake in Shields for $1.37 billion, after spending $970 million to increase its stake in the company to 71% in the prior year.

Specialty pharmacies are designed to deliver medications with unique handling, storage and distribution requirements, often for patients with complex conditions such as cancer, multiple sclerosis and rheumatoid arthritis.

(Reporting by Surbhi Misra and Gnaneshwar Rajan in Bengaluru; Editing by Rashmi Aich)