New York – Global law firm K&L Gates LLP has assisted Shields Health Solutions, a specialty pharmacy management company, on the agreement by Walgreens Boots Alliance (WBA) to acquire the remaining approximately 30% stake in Shields not previously held by it for $1.37 billion in cash. The transaction is expected to close by the end of the 2022 calendar year.

Shields is the leading health system-owned specialty pharmacy integrator in the United States. The full acquisition of Shields from other equity holders follows the increase of WBA’s stake to approximately 70% in September 2021, on which K&L Gates also advised Shields.

The K&L Gates team advising Shields on healthcare, antitrust, and disclosure matters included New York partner Josh Berick, Austin partner Andrea Cunha, and Chicago partner Lauren Donahue.