CareCentrix spins off from Walgreens in Sycamore-backed deal 

HARTFORD, Conn. – CareCentrix is now a private standalone company following its acquisition by Sycamore Partners, a New York-based private equity firm. 

The announcement coincides with Sycamore’s acquisition of Walgreens Boots Alliance, CareCentrix’s previous owner. The separation returns CareCentrix to its ownership structure prior to WBA’s acquisition of the company in 2022. 

“This is an exciting moment for CareCentrix and our team,” said Steve Horowitz, who will continue to lead CareCentrix as CEO. “Together with Sycamore, we remain committed to advancing our mission to deliver high quality whole-person care, drive better outcomes, and create a world where anyone can heal, age, and thrive at home.” 

The Pessinas, the family behind the mission 

Sycamore is acquiring the business in partnership with Stefano Pessina and his family, who have reinvested 100% of their interests in CareCentrix. The Pessinas say their investment demonstrates their ongoing support and confidence in the company’s future. 

“Our family has deep appreciation for CareCentrix and the impact they have on patients,” said Stefano Pessina. “We are proud to support CareCentrix in its mission to empower health at home by delivering coordinated, timely, and compassionate care.” 

About Sycamore Partners 

The firm, which specializes in consumer, distribution and retail-related investments, partners with management teams to improve the operating profitability and strategic value of their business. With approximately $11 billion in aggregate committed capital raised since its inception in 2011, its investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. 

• Related: It’s still “early innings” in its partnership with Walgreens Boots Alliance, but CareCentrix remains focused on building out centers of excellence across both basic services and complex disease management, says Steve Wogen, chief growth officer. 
• Related: Walgreens’ investment in CareCentrix will accelerate the ongoing shift of health care to the home, says CareCentrix CEO John Driscoll.