Skip to main content
walgreens boots alliance hero

Walgreens Boots Alliance reportedly weighing $2B sale of pharmacy automation unit iA

Walgreens Boots Alliance is weighing a sale of pharmacy automation provider iA, according to a report.
Levy

Walgreens Boots Alliance is reportedly considering a sale of Indianapolis-based iA, its pharmacy automation business, according to a Bloomberg report.

Citing people familiar with the matter, the report said a potential sale could fetch up to $2 billion and that the company, which is working with advisers, is preparing to start a sales process in the next month or so for iA.

A Walgreens spokesperson contacted by Drug Store News declined to comment on the report.   

[Read more: Walgreens Boots Alliance takes majority stake in iA]

In 2021, Walgreens announced a majority investment in iA. The company paid $451 million in cash for a majority equity stake, according to a March 2021 filing.

The potential sale comes as Walgreens considers shedding non-core businesses to raise cash for efforts including affiliate VillageMD’s $9.8 billion takeover of rival primary care provider Summit Health-CityMD, a deal that was announced in November. 

In December, Walgreens Boots Alliance sold shares of AmerisourceBergen common stock pursuant to Rule 144 for proceeds of approximately $.8 billion and, subject to the completion of the Rule 144 sale, a concurrent share repurchase by AmerisourceBergen for proceeds of approximately $.2 billion.

Walgreens Boots Alliance’s ownership of AmerisourceBergen’s common stock decreased from approximately 20% to 17%.

[Watch DSN: iA executives discuss the company’s impact on pharmacy industry]

Walgreens said at that time that proceeds to Walgreens Boots Alliance would be used primarily for debt paydown and the funding of the company’s strategic priorities, including the definitive agreement for VillageMD to acquire Summit Health-CityMD.

X
This ad will auto-close in 10 seconds