Walgreens grows with acquisition

Saturday, March 31, 2007

DEERFIELD, Ill. - Walgreens will buy Familymeds Group, a specialty pharmacy and medical specialty product provider, for $60 million, the company announced Feb. 15. The move is in line with Walgreens plan to open 500 new drugstores this year. The transaction--expected to close in the second quarter--includes 53 company-owned pharmacies in 11 states under the names Familymeds Pharmacy, Ethical Pharmacy, Worksite Pharmacy, and Arrow Pharmacy and Nutrition Center.