Latebreakers: Walgreens strikes deal to buy Option Care

Walgreen Co. has reached an agreement to purchase specialty pharmacy operator Option Care Inc. for about $850 million. Option Care, based in Buffalo Grove, Ill., provides a full spectrum of specialty-pharmacy and home-infusion services from a national network of more than 100 pharmacies (including 61 that are company owned) in 34 states. Option Care's services also include respiratory therapy and home medical equipment at some locations. Walgreens' purchase follows on the heels of rival CVS Corp.'s purchase in March of PBM Caremark Rx Inc.