Deerfield, Ill. Walgreen Co., which added its retail health-clinic concept to locations last year, is taking those services into large-company work sites with a pair of acquisitions announced Monday.
Walgreen Co. said it is establishing a new Walgreens Health and Wellness division with the planned purchase of I-trax Inc., based in Chadds Ford, Pa., and Whole Health Management of Cleveland. Walgreens said it is buying I-trax for $278 million in cash, but it did not disclose terms of the Whole Health transaction.
Walgreen Co. said the new division will manage health centers and pharmacies at large-company work sites, while continuing the rollout of Take Care Health Clinics located at Walgreens drugstores nationwide.
Hal Rosenbluth, founder and chairman of Take Care Health Systems in Conshohocken, Pa., will be president of the new division.
I-trax is the parent company of CHD Meridian Healthcare, which operates work site health-care centers for more than 160 employers including BMW, Eastman Chemical, Horizon Blue Cross Blue Shield of New Jersey, Lowe's and Toyota. The company generated revenue of $143 million last year.
Whole Health provides primary care, urgent care, wellness programs, coaching and occupational health services at 69 work site health centers for 27 clients.
Once the transactions close, Walgreens will have more than 500 work site and retail health centers in 40 states. Both deals are expected to close within 60 days.