HealthLeaders Media November 14, 2022
The Walgreens-owned primary care company entered a definitive agreement last week to acquire SummitHealth-CityMD.
VillageMD, a Walgreens-owned primary care organization, has penned a deal to acquire primary care and urgent care organization, Summit Health-CityMD.
The $8.9 billion deal, first announced last week, will include a $3.5 billion investment of an even mix of debt and equity from Walgreens Boots Alliance (WBA), which has a 63% ownership stake in VillageMD, to support the acquisition.
Additionally, Evernorth, a subsidiary of Cigna Corporation that creates and connects benefits, pharmacy, and care solutions, will invest in VillageMD and become a minority owner, in an effort to commit to the acceleration of value-based services.
The combined organization will have more than 680 provider locations across...
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