KKR to Purchase of 11,619,998 Shares of BrightSpring Health Services Common Stock from Walgreens Boots Alliance
BrightSpring Health Services (NASDAQ: BTSG), a leading provider of home and community-based health services, announced that KKR, an existing shareholder, has agreed to purchase 11,619,998 shares of BrightSpring's common stock from Walgreens Boots Alliance (WBA) in a private transaction. The deal, negotiated directly between KKR and WBA, involves KKR's private equity funds and is expected to close around September 16, 2024. BrightSpring is not issuing or selling any shares in connection with this transaction. This move signifies a significant shift in ownership structure, potentially impacting BrightSpring's strategic direction and investor relations.
BrightSpring Health Services (NASDAQ: BTSG), un fornitore leader di servizi sanitari a domicilio e basati sulla comunità, ha annunciato che KKR, un azionista esistente, ha accettato di acquistare 11.619.998 azioni delle azioni ordinarie di BrightSpring da Walgreens Boots Alliance (WBA) in una transazione privata. L'accordo, negoziato direttamente tra KKR e WBA, coinvolge i fondi di private equity di KKR ed è previsto che si concluda intorno al 16 settembre 2024. BrightSpring non sta emettendo né vendendo alcuna azione in relazione a questa transazione. Questa mossa segna un significativo cambiamento nella struttura proprietaria, con potenziali ripercussioni sulla direzione strategica e sulle relazioni con gli investitori di BrightSpring.
BrightSpring Health Services (NASDAQ: BTSG), un proveedor líder de servicios de salud a domicilio y basados en la comunidad, anunció que KKR, un accionista existente, ha acordado comprar 11.619.998 acciones de las acciones ordinarias de BrightSpring a Walgreens Boots Alliance (WBA) en una transacción privada. El acuerdo, negociado directamente entre KKR y WBA, involucra los fondos de capital privado de KKR y se espera que se cierre alrededor del 16 de septiembre de 2024. BrightSpring no está emitiendo ni vendiendo acciones en relación con esta transacción. Este movimiento significa un cambio significativo en la estructura de propiedad, que podría impactar la dirección estratégica y las relaciones con los inversores de BrightSpring.
BrightSpring Health Services (NASDAQ: BTSG)는 가정 및 지역 사회 기반 건강 서비스의 주요 제공업체로, 기존 주주인 KKR가 Walgreens Boots Alliance (WBA)로부터 BrightSpring의 보통주 11,619,998주를 사들이기로 합의했다고 발표했습니다. KKR과 WBA 간의 직접 협상으로 체결된 이번 거래는 KKR의 사모펀드를 포함하며, 2024년 9월 16일경 마무리될 것으로 예상됩니다. BrightSpring은 이번 거래와 관련하여 주식을 발행하거나 판매하지 않습니다. 이 움직임은 소유 구조의 중대한 변화를 의미하며, BrightSpring의 전략적 방향과 투자자 관계에 잠재적인 영향을 미칠 수 있습니다.
BrightSpring Health Services (NASDAQ: BTSG), un fournisseur leader de services de santé à domicile et basés sur la communauté, a annoncé que KKR, un actionnaire existant, a accepté d'acheter 11.619.998 actions des actions ordinaires de BrightSpring à Walgreens Boots Alliance (WBA) dans le cadre d'une transaction privée. L'accord, négocié directement entre KKR et WBA, concerne les fonds de capital-investissement de KKR et devrait être finalisé aux alentours du 16 septembre 2024. BrightSpring n'émet ni ne vend aucune action dans le cadre de cette transaction. Ce mouvement signifie un changement significatif dans la structure de propriété, ce qui pourrait avoir un impact sur la direction stratégique et les relations avec les investisseurs de BrightSpring.
BrightSpring Health Services (NASDAQ: BTSG), ein führender Anbieter von Gesundheitsdiensten zu Hause und in der Gemeinschaft, hat bekannt gegeben, dass KKR, ein bestehender Aktionär, zugestimmt hat, 11.619.998 Aktien des Stammkapitals von BrightSpring von Walgreens Boots Alliance (WBA) in einer privaten Transaktion zu erwerben. Das direkt zwischen KKR und WBA verhandelte Geschäft umfasst die Private-Equity-Fonds von KKR und wird voraussichtlich um den 16. September 2024 abgeschlossen. BrightSpring gibt im Zusammenhang mit dieser Transaktion keine Aktien aus oder verkauft diese. Diese Bewegung bedeutet einen signifikanten Wechsel in der Eigentumsstruktur, der potenziell die strategische Ausrichtung und die Beziehungen zu Investoren von BrightSpring beeinflussen könnte.
- KKR, an existing shareholder, increases its stake in BrightSpring, potentially indicating confidence in the company's future prospects
- The transaction does not involve BrightSpring issuing new shares, avoiding dilution for existing shareholders
- Walgreens Boots Alliance's decision to sell a significant number of shares could be perceived as a lack of confidence in BrightSpring's future growth
Insights
KKR's acquisition of 11,619,998 shares from Walgreens Boots Alliance (WBA) signifies a substantial shift in BrightSpring's ownership structure. This move likely indicates KKR's confidence in BrightSpring's future prospects and its commitment to the healthcare sector. For investors, this transaction could be seen as a positive signal, potentially boosting market confidence in BrightSpring.
However, it's important to note that this is a private transaction between existing shareholders, meaning BrightSpring isn't raising new capital. The impact on the company's operations and financials may be in the short term. Investors should monitor for any changes in strategic direction or governance that might follow this ownership shift, as KKR's increased stake could influence future decision-making.
This transaction reflects broader trends in the healthcare services market, particularly the growing interest in home and community-based care models. KKR's increased investment in BrightSpring suggests they see significant growth potential in this sector, likely driven by factors such as an aging population and the shift towards more cost-effective care delivery outside traditional hospital settings.
For retail investors, this move by a major private equity firm could signal underappreciated value in BrightSpring and similar companies. However, it's important to consider that private equity strategies often have longer time horizons and different risk tolerances compared to public market investors. The transaction's impact on BrightSpring's stock liquidity and free float should also be closely monitored.
LOUISVILLE, Ky., Sept. 13, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services (“BrightSpring” or the “Company”) (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced that investment funds managed by KKR & Co. Inc. and its subsidiaries (“KKR”), an existing shareholder of BrightSpring, have entered into an agreement with Walgreen Co. (“WBA”) to purchase 11,619,998 shares of BrightSpring’s common stock from WBA in a private transaction. The transaction was negotiated directly between KKR and WBA, with KKR making the investment through its private equity funds. BrightSpring is not issuing or selling any shares of common stock in connection with the transaction, which is expected to close on or about September 16, 2024.
About BrightSpring Health Services
BrightSpring Health Services provides complementary and integrated home- and community-based pharmacy and health solutions for complex populations in need of specialized and/or chronic care. Through the Company’s service lines, including pharmacy, home health care and primary care, and rehabilitation and behavioral health, we provide comprehensive care and clinical solutions in all 50 states to over 400,000 customers, clients and patients daily.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About Walgreens Boots Alliance
WBA is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities. A trusted, global innovator in retail pharmacy with approximately 12,500 locations across the U.S., Europe and Latin America, WBA plays a critical role in the healthcare ecosystem. WBA is reimagining local healthcare and well-being for all as part of its purpose – to create more joyful lives through better health. Through dispensing medicines, improving access to a wide range of health services, providing high quality health and beauty products and offering anytime, anywhere convenience across its digital platforms, WBA is shaping the future of healthcare.
Media Contact:
Leigh White
Leigh.white@brightspringhealth.com
502.630.7412
FAQ
How many shares of BrightSpring Health Services (BTSG) is KKR purchasing from Walgreens Boots Alliance?
When is the KKR-Walgreens Boots Alliance transaction for BrightSpring Health Services (BTSG) shares expected to close?
Is BrightSpring Health Services (BTSG) issuing new shares as part of the KKR-Walgreens Boots Alliance transaction?
What type of health services does BrightSpring Health Services (BTSG) provide?
