FTC grants early termination of waiting period in Walgreens, I-trax merger

By Lisa Kerner

Charlotte, N.C., April 14 - The Hart-Scott-Rodino waiting period was terminated early in the proposed acquisition of I-trax, Inc. by Walgreen Co., the Federal Trade Commission said in a release.

Walgreens had announced it would acquire I-trax, parent company of CHD Meridian Healthcare, LLC, for approximately $278 million in cash, including the assumption of about $18.3 million in net debt.

A Walgreens affiliate was to begin a $5.40-per-share tender offer for all outstanding common stock of I-trax, it was previously reported.

The acquisition was expected to close within 60 days of March 17.

Walgreens said the acquisition of I-trax, as well as of the privately held Whole Health Management, would enable Walgreens to add worksite pharmacies where I-trax and Whole Health already operate health centers.

I-trax, through its subsidiaries CHD Meridian Healthcare and ProFitness Health Solutions, provides worksite health services, including primary and acute care, wellness, pharmacy and disease management services and health and fitness programming, for more than 160 employers. The company is based in Chadds Ford, Pa.

Whole Health, located in Cleveland, provides primary care, urgent care, wellness programs, health coaching and occupational health services through 69 worksite health centers for 27 clients.

Walgreens operates a chain of drugstores and is based in Deerfield, Ill.

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