Mergers & Acquisitions
Evernorth said the goal is to enhance continuity of care across specialty healthcare settings.
Mike Motz is replacing Tim Wentworth as CEO of Walgreens.
The merger is intended to lower the cost of specialty medications and high-cost drug classes like GLP-1s.
Both companies were required by the DOJ to divest more than 160 businesses across 19 states to allow the deal to continue.
The acquisition is meant to fuel Cardinal's growth strategy by expanding the reach of its specialty management services organization.
DOJ is requiring UnitedHealth Group and Amedisys to divest 164 home health and hospice locations across 19 states.
The deal spans 13 states and includes certain patient service centers and in-office phlebotomy locations.
Officials said the partnership would combine the teams and strengths of both organizations, including their hospital-at-home models.
Beacon now operates four additional hospitals, 35 outpatient clinics and an ambulatory surgery center in southwest Michigan.
In the $23.7B deal to the private equity firm, the company will continue to operate as Walgreens.