Walgreens Expands Services With Joint Venture

Deerfield, Ill., Walgreen Co. has formed a joint venture with pharmaceutical services firm Senior Healthcare Partners LLC (known to its customers as SeniorMed Pharmacy) to provide prescription services to assisted-living and other senior communities. Under the agreement, the two companies will form a new business, called SeniorMed, to be led by Stephen Axelrod, who is CEO of Senior Healthcare Partners.

“The new joint venture allows both of us to expand into the fast-growing senior assisted-living pharmacy market,” said Greg Wasson, president, Walgreens Health Services, a division of Walgreen Co.