Walgreens Boots Alliance

Ald. William Hall criticized Walgreens for closing its S. Cottage Grove Ave. store in Chatham, calling the decision 'first-degree corporate abandonment' and warning it will create a 'medicine drought' for seniors and people with chronic conditions. Walgreens said theft and violent incidents made it unsafe to keep the location open and confirmed affected employees can transfer to other stores. Other local leaders noted long-running crime problems and questioned the timing of the protest over the closure. » Plus sur yahoo.com

Walgreens will eliminate over 600 roles nationwide as part of a post-acquisition reorganisation by private equity owner Sycamore Partners, including 469 positions in Illinois and 159 in Texas tied to a distribution-centre closure. The cuts follow Sycamore’s cost-reduction drive since acquiring Walgreens, which has included workforce reductions and benefit changes while the company aims to boost store sales. Walgreens has been reorganised into five operating units as it responds to margin pressure from competition and lower prescription reimbursements. » Plus sur finance.yahoo.com

VillageMD has sold 32 primary care practices and outpatient clinics in Texas to Harbor Health as it seeks buyers for hundreds of sites following Walgreens' exit from its primary care strategy. The acquisition nearly quadruples Harbor Health’s clinic footprint to 43 sites, adds over 80 clinicians, and expands the startup into San Antonio, El Paso and Dallas while boosting its Austin presence. The deal complements Harbor’s recent $130 million funding and its plans to expand insurance offerings on healthcare.gov later this year. » Plus sur forbes.com

Walgreens Boots Alliance was taken private by Sycamore Partners in a $10 billion deal and the retailer will be split into five companies, with Walgreens naming former Staples U.S. chief Mike Motz as its new CEO. The move follows years of store closures, strategic missteps and widening losses, while Sycamore partners with chairman Stefano Pessina on the leveraged buyout. The article also covers major leadership departures at the CDC, developments at Alnylam Pharmaceuticals and other health industry items. » Plus sur forbes.com

Sycamore Partners has completed its acquisition of Walgreens; the company will now operate as a private firm and Stefano Pessina and his family have reinvested their stake. As part of the transition, Mike Motz was immediately appointed CEO, Tim Wentworth remains a director, and John Lederer was named executive chairman. Sycamore emphasizes a refocus on pharmacy, retail and the customer experience as the goal of the repositioning. » Plus sur de.investing.com