Walgreens Agrees to Acquire Assets of 12 Eaton Apothecary Pharmacies in Boston Area

Fri Oct 23, 2009 5:42pm EDT
 
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DEERFIELD, Ill.--(Business Wire)--
Walgreen Co. (NYSE, NASDAQ: WAG) today announced a definitive agreement in which
the company agreed to acquire the assets of 12 Eaton Apothecary pharmacies in
the Boston area from D.A.W., Inc., a subsidiary of Nyer Medical Group, Inc.
(NASDAQCM: NYER). The transaction is valued at approximately $19 million. 

"Today is a very special day for our Boston market," said Dave White, Walgreens
market vice president for Boston. "Not only are we keeping most of the
pharmacies open, but we also intend for eligible employees at all 12 locations
to join our team. Eaton`s customers should expect to see the familiar faces and
services they know and trust, while benefiting from Walgreens expanded product
and service offering. We look forward to continuing Eaton`s 100-plus year
tradition of quality pharmacy service in communities around the Boston area." 

"I am happy to say that Walgreens interest in Eaton`s has been beyond buying
only prescription files - they will continue to operate a majority of the 12
stores as well as hire all eligible employees from the 12 locations," said Mark
Dumouchel, President of D.A.W and Nyer Medical Group. "I am confident that the
best choice for our customers and employees is Walgreens." 

The acquisition is subject to certain terms and conditions, and is expected to
close within the next 90 days. 

Walgreens (www.walgreens.com) is the nation`s largest drugstore chain with
fiscal 2009 sales of $63 billion. The company operates 7,045 drugstores in all
50 states, the District of 

Columbia and Puerto Rico. Walgreens provides the most convenient access to
consumer goods and services and cost-effective pharmacy, health and wellness
services in America through its retail drugstores, Walgreens Health Services
division and Walgreens Health and Wellness division. Walgreens Health Services
assists pharmacy patients and prescription drug and medical plans through
Walgreens Health Initiatives Inc. (a pharmacy benefit manager), Walgreens Mail
Service Inc., Walgreens Home Care Inc., Walgreens Specialty Pharmacy LLC and
SeniorMed LLC (a pharmacy provider to long-term care facilities). Walgreens
Health and Wellness division includes Take Care Health Systems, the largest and
most comprehensive manager of worksite health and wellness centers and in-store
convenient care clinics, with more than 700 locations throughout the country. 

Cautionary Note Regarding Forward-Looking Statements

Certain information in this press release, as well as in our public filings, the
company Web site, other press releases, the expected closing of the acquisition
of certain assets of the Eaton Apothecary pharmacies and oral statements made by
our representatives, is forward-looking information based on current
expectations and plans that involve risks and uncertainties.Forward-looking
information includes statements concerning pharmacy sales trends, prescription
margins, number and location of new store openings, outcomes of litigation, the
level of capital expenditures, and demographic trends.Forward looking
information includes statements with words such as "expects," "estimates,"
"intends," "believes," "plans," "anticipates" or similar language.For such
statements, we claim the protection of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.

Forward-looking statements involve risks and uncertainties, known or unknown to
the company, that could cause results to differ materially from management
expectations as projected in such forward-looking statements.These risk and
uncertainties are discussed in Item 1A of the company`s annual report on Form
10-K for the period ended August 31, 2008 as well as other documents filed with
the Securities and Exchange Commission.Unless otherwise required by applicable
securities laws, the company assumes no obligation to update its forward-looking
statements to reflect subsequent events or circumstances.

Walgreens
Michael Polzin, 847-914-2920 

Copyright Business Wire 2009

 

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