I-trax chairman Frank Martin will receive the largest bonus - $400,480 - once the purchase has been completed, according to a filing with the Securities and Exchange Commission. CEO R. Dixon Thayer will get $193,120. Walgreen agreed to buy the operator of worksite-based health clinics on March 14 for $278 million, or $5.40 per share.
Three of the four biggest coal mining companies in Campbell County plan to open a medical treatment clinic in Gillette later this year for employees, retirees and qualifying dependents.
Rio Tinto Energy America, Powder River Coal Co. and Foundation Coal West, which together employ more than 3,000 at area mines, will open the clinic in July, said Bob Green, a Rio Tinto spokesman representing the Wyoming Quality Healthcare Coalition.
Green said the companies, in cooperation with CHD Meridian Healthcare, plan to “operate the health care center with a staff of licensed experienced physicians, registered nurses and support personnel.”
Walgreen may be on its way to your office. The drug store chain is buying its way into the business of providing on-site health care for employers.
Walgreen execs said yesterday that the company’s buying a shop called I-trax for about $260 million and another company called Whole Health Management for an undisclosed amount, the WSJ reports.
Like its archrival CVS, Walgreen is no longer content with its retail business selling prescriptions, over-the-counter drugs and a random assortment of groceries and novelty items. Walgreen and CVS have both been busy opening retail clinics to provide health care in their stores. And last year, CVS merged with the giant pharmacy benefits manager to get into the business of managing companies’ prescription drug benefits.
Walgreen Co. (NYSE:WAG) said Monday it created a new health and wellness division and as part of the division’s strategy, the company plans to acquire I-trax (AMEX:DMX) Inc. and privately held Whole Health Management of Cleveland.
The company intends to acquire I-trax for about $278 million in cash and the assumption of roughly $18.3 million in net debt.
An affiliate of Walgreens will begin a tender offer within 10 business days for all outstanding common stock of I-trax at $5.40 a share. Shares of I-trax closed Friday at $3.90.
The terms of the Whole Health Management transaction weren’t disclosed.
Ohio State Undergraduate Student Government members are debating whether or not MyNurseLine will return next year.
MyNurseLine is a 24-hour medical advice hotline, staffed by registered nurses and funded by USG and the Office of Student Affairs. It was implemented in September and is prepaid through August.
“We are happy people are using it, but by no means is this considered a success in our minds,” said Kate Christobek, USG president.
For the first time, statistics regarding the nurse line were released by the nurse line’s operator, CHD Meridian Healthcare, on Friday. Christobek said the data showed that each call is costing more than $30.
“The cost benefit analysis is out of control,” said Stephen Smith, USG senate parliamentarian.
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