Partnership with CareCentrix extends care capabilities into the house to create a related ecosystem for sufferers
DEERFIELD, Sick.- Aug. 31, 2022 – Walgreens Boots Alliance, Inc. (Nasdaq: WBA) at present introduced it has accomplished its beforehand introduced majority share acquisition of CareCentrix, Inc.—the main unbiased home-centered platform that coordinates care to the house for well being plans, sufferers and suppliers. The bulk funding in CareCentrix accelerates Walgreens Well being’s capabilities in delivering high quality healthcare throughout a spectrum of settings together with major care, specialty pharmacy care, post-acute care and residential care.
By bringing collectively Walgreens trusted well being companies and neighborhood presence with CareCentrix’s technology-enabled, care-at-home options, the partnership higher addresses the wants of individuals with complicated or power situations as they transition out of the hospital. CareCentrix’s superior information analytics capabilities allow extremely customized care plans to assist individuals transition to the fitting website of care, prioritizing care within the house when acceptable. This method helps each care high quality and worth by lowering hospital readmissions and enhancing affected person satisfaction and outcomes.
“We created Walgreens Well being to reimagine native healthcare and wellbeing for all. This partnership advances our capability to handle the wants of individuals throughout care settings instantly following hospital discharge,” stated Roz Brewer, CEO, WBA. “Our collaboration with CareCentrix is likely one of the some ways we’re increasing on our pharmacy and affected person experience to encompass people with care when and the way they want it.”
Healthcare companies delivered after discharge, together with care delivered within the house, are one of many quickest rising segments in healthcare at present. Caring for sufferers from the hospital to the house represents greater than $75 billion in annual healthcare prices for payers, suppliers and sufferers.
“Probably the most difficult a part of the healthcare journey is the final mile – extending healthcare supply into individuals’s properties,” stated John Driscoll, CEO, CareCentrix. “Along with Walgreens Well being, CareCentrix is ready to mix Walgreens trusted neighborhood presence with our highly effective technology-enabled care to higher deal with sufferers’ distinctive well being wants of their properties.”
Along with home-based care, CareCentrix connects sufferers to acceptable suppliers and websites of care post-discharge, using a predictive analytics platform, HomeFirst Analytics. This stage of customization additionally contains pairing sufferers with care transition groups that help affected person engagement for 90 days post-discharge to enhance high quality metrics.
Walgreens Well being will proceed to advance capabilities that combine CareCentrix information analytics and residential care experience with WBA’s portfolio of well being options to determine and shut care gaps, in addition to coordinate affected person care throughout situations, settings and supplier networks. These capabilities will allow Walgreens to help treatment reconciliation for CareCentrix sufferers transitioning from hospital to house and supply major care choices to sufferers when wanted, together with Village Medical physicians and superior follow suppliers. CareCentrix can even play a crucial position in Walgreens Well being built-in choices to handle inhabitants stage threat for advantages administration and post-acute spend and outcomes.
CareCentrix manages take care of 19 million members by roughly 7,400 supplier areas, and empowers extra individuals to dwell, heal and age at house. By partnering with well being plans and well being programs, CareCentrix has lowered whole price of take care of members by 20 %, together with a better than 11 % discount in emergency division utilization and a 23 % discount in expert nursing prices.
This funding provides WBA majority possession of CareCentrix, investing roughly $330 million for 55 % of the corporate at an $800 million valuation, web of debt, with the choice to amass the remaining fairness pursuits sooner or later. In WBA’s fiscal 12 months 2021, CareCentrix delivered professional forma gross sales of $1.5 billion. Following the completion of the funding, CareCentrix will proceed to function as an unbiased firm beneath its present government management.
Sidley Austin LLP acted as lead authorized advisor for WBA, together with Weil, Gotshal & Manges LLP. Citi acted as monetary advisor for CareCentrix, Inc., and Cleary Gottlieb Steen & Hamilton LLP acted as lead authorized advisor.
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is an built-in healthcare, pharmacy and retail chief serving tens of millions of consumers and sufferers daily, with a 170-year heritage of caring for communities.
A trusted, world innovator in retail pharmacy with roughly 13,000 areas throughout the U.S., Europe and Latin America, WBA performs a crucial position within the healthcare ecosystem. The corporate is reimagining native healthcare and well-being for all as a part of its function – to create extra joyful lives by higher well being. By means of meting out medicines, enhancing entry to a variety of well being companies, offering top quality well being and wonder merchandise and providing anytime, anyplace comfort throughout its digital platforms, WBA is shaping the way forward for healthcare.
WBA has greater than 315,000 workforce members and a presence in 9 international locations by its portfolio of shopper manufacturers: Walgreens, Boots, Duane Reade, the No7 Magnificence Firm, Benavides in Mexico and Ahumada in Chile. Moreover, WBA has a portfolio of healthcare-focused investments positioned in a number of international locations, together with China and the U.S.
The corporate is pleased with its contributions to wholesome communities, a wholesome planet, an inclusive office and a sustainable market. WBA has been acknowledged for its dedication to working sustainably: it’s an index element of the Dow Jones Sustainability Indices (DJSI) and was named to the 100 Finest Company Residents 2021.
Extra firm data is out there at www.walgreensbootsalliance.com.
About CareCentrix
CareCentrix presents value-based house options to payors and well being programs to assist extra of their members entry the house care they want, after they want it. By means of a single platform, CareCentrix coordinates a number of, complicated house care wants for over 19 million members by a nationwide community of roughly 7,400 supplier areas, leading to a simplified affected person and doctor expertise. For over 25 years, CareCentrix’s give attention to the entire particular person has improved continuity of care, lowered pointless readmissions and pointless emergency division utilization, and has delivered optimistic monetary outcomes for well being plans. With proprietary HomeFirst Analytics to stratify threat and optimize care supply, CareCentrix takes on the complexities of care coordination and administration of care within the house to supply our shoppers with important insights into care at house. CareCentrix has been named one in all Fierce Healthcare’s 2022 “Fierce 15” corporations and FORTUNE’s Finest Workplaces for Getting older Providers. For extra data, please go to www.carecentrix.com.
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