Walgreens acquires Carle Foundation
CHICAGO — Walgreens has acquired the 10-site retail pharmacy chain Carle Foundation, a pharmacy operator out of the Urbana-Champaign, Ill., area with the majority of stores located inside medical office buildings, according to Dresner Partners, which brokered the deal.
"Carle's overarching objective was to continue providing high-quality pharmacy services to the Urbana-Champaign community, particularly the large patient base of Carle's multispecialty physician practice,” stated Carle’s COO John Snyder. “This transaction accomplishes that goal, and creates new opportunities for Carle."
"This transaction is an example of an accelerating trend in the hospital industry,” noted Ejaz Elahi, director of Dresner Partners' Healthcare Practice. “As hospitals review their clinical service portfolios and financial condition in the face of regulatory and reimbursement challenges, they are compelled to seek new ways to develop the most clinically effective and cost-efficient delivery systems possible. In the case of Carle, the sale of Rx will enable Carle to focus more closely on its core business while entrusting the provision of pharmacy services to a highly reputable operator."
Walgreens currently operates about 100 hospital-based pharmacies.