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Ropes & Gray Represents Welsh, Carson, Anderson & Stowe in the $1.37 Billion Sale of Remaining Shares in Shields Health Solutions to Walgreens Boots Alliance

Practices: Health Care, Private Equity, Tax, Executive Compensation & Employee Benefits, Litigation

Ropes & Gray advised Welsh, Carson, Anderson & Stowe (WCAS) in the sale of its remaining 30 percent stake in Shields Health Solutions to Walgreens Boots Alliance. The transaction was valued at approximately $1.37 billion, based on the exit multiple agreed at the time of Walgreen’s September 2021 investment in Shields Health. The transaction was announced on Sept. 20 in a press release.

Shields Health 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 was led by private equity partners Patrick Dorime and Othon Prounis, and included tax partner Leo Arnaboldi III, benefits partner Allie Alperovich, health care partner Timothy McCrystal, litigation & enforcement partners Jane Willis and David Hennes, and employment and executive compensation partner Megan Bisk.

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