Drugstore chain Walgreen said Monday that it was restructuring its healthcare division and placing it under a new executive.
Walgreen has been on a shopping spree in recent months, snapping up the 250-plus stores of Duane Reade in New York in February just one month after buying 25 Snyder's Drug stores in the Minneapolis area.
Walgreen executives said they're splitting the company's health service division into two existing units — health and wellness, and pharmacy services.
Under the new structure, the company's health and wellness division, which currently operates Walgreen's in-store clinics and health centers as well as sales for those services, will expand to add the rest of the company's sales teams along with its pharmacy benefit management service.
Meanwhile, Walgreen's pharmacy services unit, which oversees retail pharmacy operations, will take responsibility for long-term care pharmacies, specialty pharmacy, infusion pharmacy, mail-service pharmacy as well as home-care services.
Walgreen Co. is based in the Chicago suburb of Deerfield, Ill.
Company shares rose 2 cents to $35.26.
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