Walgreens invests in specialty pharmacy developer

Walgreens and a private equity firm are investing in Shields Health Solutions, a company that helps hospitals and health systems develop their own on-site specialty pharmacies.

Walgreens and Welsh, Carson, Anderson & Stowe, have agreed to buy equity stakes in the company. The terms of the agreement were not disclosed.

Shields is helping 30 health systems create and grow their own specialty pharmacies. 

With the investment, Shields said it hopes to expand its network of health-system owned specialty pharmacies and patients served.

"Specialty pharmacies play a critical role in ensuring a true continuum of care for patients with complex, chronic conditions,"  Walgreens President Alex Gourlay said in a news release. 

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