Healthcare retail in big demand
Healthcare retail is gaining traction throughout the globe, with key acquisitions highlighting the profitability of the sector.
For example, the largest drugstore in the United States – Walgreens – recently finalized a deal to acquire 45 percent of Alliance Boots in the U.K. Alliance Boots is Britain's largest pharmaceutical stores, which means Walgreens now has control of nearly half of the brand.
Walgreens paid upward of $6 billion to complete the strategic partnership, Retail Digital reports. The move should cement Walgreens' place as one of the largest players in the category.
"This strategic transaction represents a further vital step in achieving our vision of becoming a global healthcare leader," said Stefano Pessina, the Italian businessman who invested millions into Boots, as quoted by the news source. "The fit is natural; Walgreen's consumer profile in the U.S. is similar to Boots in the U.K. in many ways: a trusted and much-loved pharmacy brand with a strong heritage."
With an aging baby boomer population, the pharmaceutical retail market is expected to explode over the next few years.