Ropes & Gray Represents Welsh Carson in Walgreens’ Majority Investment in Shields Health Solutions

Ropes & Gray represented Welsh Carson, Anderson & Stowe in the recapitalization of Shields Health Solutions in which Walgreen Co. acquired a majority stake in Shields for approximately $970 million. 

All of Shields’ current investors including Welsh Carson, Anderson & Stowe (WCAS) and company founder and chairman Jack Shields, will remain as shareholders. The transaction was announced on Sept. 21. The press release is here. 

Shields is an industry leader in integrated, health system-owned specialty pharmacy care. WCAS is a leading private equity firm focused on investing in technology and healthcare, primarily in the United States.

The Ropes & Gray team that advised Welsh Carson was led by private equity partners Othon Prounis, Scott Abramowitz and Carolyn Vardi (all of New York) and tax partner Leo Arnaboldi III (New York), employment, executive compensation & benefits partners Alexandra Alperovich (New York) and Megan Bisk (Boston), health care partner Timothy McCrystal (Boston), litigation & enforcement partner Jane Willis (Boston), litigation & enforcement counsel Deidre Johnson (Boston), and private equity associates Patrick Dorime and Samuel Levitt (both of New York).