Walgreen buys Chadds Ford company for $223 million

Health-management firm I-trax Inc., Chadds Ford, today said it agreed to be acquired by Walgreen Co. for approximately $223 million.

I-trax shares were up nearly 35 percent, or $1.35, to $5.25 in morning trading on the American Stock Exchange.

Additionally, Walgreen will buy privately held Whole Health Management, another worksite health center operator. Terms of that deal were not disclosed.

Both acquisitions are expected to close within 60 days, pending regulatory approval.

Walgreen, the Illinois-based drug store chain, will pay $5.40 per common share of I-trax, which provides on-site fitness and wellness programs, and workplace medical care facilities for corporate clients.

Walgreen shares were unchanged at $35.96 on the New York Stock Exchange.