Is Walgreen a Healthy Stock for Your Portfolio?
T = Trends for a Stock’s Movement
Walgreen operates a drugstore chain in the United States. The company provides its customers with access to consumer goods and services, pharmacy, and health and wellness services in communities across the U.S. Walgreen sells prescription and non-prescription drugs, as well as general merchandise that includes household items, convenience and fresh foods, photo finishing, and candy. General convenience and wellness merchandise is important to consumers across the nation, and Walgreen is a go-to shop for quick and efficient general merchandise and health and wellness experience for consumers that should continue well into the future.
Walgreen said Thursday that it is selling a majority stake in its worksite health center business to the private equity firm Water Street Healthcare Partners. The Walgreen business is called Take Care Employer Solutions, and it manages health and wellness and fitness facilities at large employer campuses. As of Feb. 28, it had 366 centers around the country. The companies did not disclose terms of the deal and Walgreen said it won’t have much impact on its annual net income. Walgreen said Water Street is also investing in a second worksite health company, CHS Health Services, and it will combine that company with Take Care. CHS runs about 130 facilities. The name of the new worksite health company has not been determined. The deal does not include Walgreen Co.’s retail clinics, which were formerly called Take Care. Walgreen changed the name of that business to Healthcare Clinic in 2013.