Healthcare- and technology-focused private equity firm Welsh Carson Anderson & Stowe and drugstore chain Walgreen Co. agreed to make equity investments in specialty pharmacy care provider Shields Health Solutions.

Shields intends to use the capital to advance its national expansion, add new disease states, and broaden its service and technology offerings.

The transaction, terms of which were not disclosed, is set to be completed in the third quarter.

Centerview Partners was financial adviser to Shields, while Goodwin Procter LLP and Pepper Hamilton LLP were its legal advisers. Ropes & Gray LLP was legal adviser to Welsh, and Sidley Austin LLP was legal adviser to Walgreens.