BrightSpring Health Services falls as Walgreens offloads

Brightspring Health Services

19/02/2025 13:14

**  Shares of BrightSpring Health Services  BTSG.O  down
7.3% premarket to $20.53 as Walgreens  WBA.O  cuts its holdings
  
    ** Wholly-owned subsidiary of Walgreens offloaded 12 mln
shares in Rule 144/unregistered block trade being handled by
BofA, according to  late Tues
  
    ** Kentucky-based home healthcare and hospice provider
BrightSpring, also backed by PE firm KKR  KKR.N , went public in
 priced at $13
  
    ** KKR and Walgreens bought BrightSpring for $1.32 bln in
2019, with Walgreens taking a minority stake
  
    ** BrightSpring has ~174.13 mln shares outstanding for $3.9
bln market cap
  
    ** Prior to this transaction, KKR owned ~92.96 mln shares
(~53% stake), Walgreens held ~23 mln shares (~13%) and Fidelity
was third largest investor with ~21 mln shares (~12%) 
  
    ** Through Tues close, BTSG shares had gained 30% YTD. Stock
hit record intraday high of $24.82 on Jan 30, 2025

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))