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Walgreen Co.
WAG and BioScrip, Inc.
BIOS, today announced that
they have entered into a definitive agreement under which Walgreens would
acquire certain assets of BioScrip's community specialty pharmacies and
centralized specialty and mail service pharmacy businesses and BioScrip would
receive a total deal value of approximately $225 million. This includes
approximately $170 million in cash at closing and retention by BioScrip of
associated accounts receivable and working capital liabilities of
approximately $55 million, based on BioScrip's balance sheet values at Dec.
31, 2011. Up to an additional $60 million in purchase price may be payable
based on events related directly or indirectly to Walgreens retention of
certain business included in the transferred businesses.
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