BioScrip Inc (BIOS) Thursday announced that it has signed a definitive agreement to sell certain assets of its community specialty pharmacies and centralized specialty and mail service pharmacy businesses to Walgreens Co. (WAG), for a total deal value of approximately $225 million.
BioScrip added that the total deal value includes approximately $170 million in cash at closing and retention by BioScrip of associated accounts receivable and working capital liabilities of approximately $55 million, based on BioScrip's balance sheet values at December 31, 2011.
The transaction is structured as an asset acquisition, with a planned transfer of servicing for the central specialty pharmacy and mail service pharmacy businesses to existing Walgreens facilities.
For comments and feedback: editorial@rttnews.com