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Deerfield, IL - Walgreens has completed its acquisitions of I-trax, Inc., parent company of CHD Meridian Healthcare, and privately-held Whole Health Management, two leading companies that together operate more than 350 worksite health centers. The acquired companies' services include primary and acute care, wellness, pharmacy and disease management services and health and fitness programming.

The acquisitions position Walgreens as the leading provider of worksite health services. Combined with Walgreens wholly-owned subsidiary and convenient care clinic manager, Take Care Health Systems, they will form the platform for the new Walgreens Health and Wellness division. Chadds Ford, Penn.-based I-trax/CHD Meridian and Cleveland-based Whole Health will combine to operate under the name, Take Care Employer Healthcare Solutions.

"Our official entry into the health care services and wellness space marks a very exciting day for our shareholders, customers and employees," said Walgreens Chairman and CEO Jeffrey A. Rein. "We believe our leadership position in pharmacy, trusted health care brand and goal of 10,000 points of care by 2012 will give us opportunities to meaningfully address the access issues that currently challenge the U.S. health care system."

Corporate clients served by I-trax/CHD Meridian and Whole Health include BMW, Eastman Chemical, Glatfelter, Lowe's, Toyota, Continental Airlines, Florida Power and Light, Harrah's Entertainment, Scotts Miracle-Gro and Sprint.

"Walgreens Health and Wellness division is positioned to deliver an unparalleled offering to the marketplace," said Hal F. Rosenbluth, president of Walgreens Health and Wellness and chairman of Take Care Health Systems. "We will combine the strength of Take Care Employer Healthcare Solutions with our existing Take Care Health Clinics, located at Walgreens drugstores, to improve patient health outcomes, lower costs and increase Walgreens relationships with employers and health plans."

On March 17, Walgreens announced its intent to acquire I-trax, Inc. in a cash transaction valued at approximately $278 million, including the assumption of debt. On April 25, Walgreens announced the successful completion of the tender offer for I-trax. On April 30, Walgreens completed its acquisition of I-trax through a merger in which all shares of I-trax common and preferred stock not validly tendered and purchased in the tender offer were converted into the right to receive cash consideration equal to the applicable tender offer purchase price per share. As a result of the merger, I-trax became a wholly-owned subsidiary of Walgreens and the shares of I-trax were withdrawn from trading on the American Stock Exchange.

SOURCE: Walgreens