Funding agency KKR & Co. Inc. (NYSE: KKR) introduced Friday that it has entered into an settlement to accumulate 11,619,998 shares of BrightSpring Well being Providers (Nasdaq: BTSG) from Walgreens Boots Alliance (Nasdaq: WBA).

KKR is an current investor in BrightSpring, whose inventory was buying and selling at $13.85 as of Friday's shut.

Primarily based in Louisville, BrightSpring gives dwelling and community-based pharmacy and healthcare companies for advanced populations. It gives dwelling well being care, dwelling well being care, and home-based main care, and has a presence in all 50 states.

The corporate went public earlier this yr.

In 2019, KKR and a subsidiary of Walgreens Boots Alliance acquired BrightSpring for $1.32 billion. Now, Walgreens is exiting that funding, whereas KKR is doubling down.

BrightSpring was one of many few Walgreens investments previously 5 years that centered on dwelling care. The corporate additionally acquired post-acute expertise platform CareCentrix and invested greater than $6 billion in dwelling care-focused main care supplier VillageMD.

Since its IPO, BrightSpring has centered on an 'built-in' method to dwelling care.

“As we've stated, for the reason that IPO, I consider that subsequent yr we're actually going to see the fruits of more and more built-in care within the group,” BrightSpring CEO Jon Rousseau stated lately. “We clearly have very clinically acceptable transitions from dwelling care to hospice, [and] some private care is supplied to the identical sufferers, additionally remedy, … however we see a possibility to essentially scale that sooner or later. It requires focus, so we’re investing in an built-in care staff to do this.”