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Walgreens-Backed VillageMD Nearing $9B Summit Health Deal
PYMNTS.com November 7, 2022
Walgreens-owned VillageMD is getting close to a $9 billion deal to merge with Summit Health, part of an ongoing trend of consumer health brands moving into primary care.
The company has entered into a definitive agreement to acquire Summit Health-CityMD, according to a Monday (Nov. 7) press release. The merger involves combining Village with Summit Health, which owns CityMD, an urgent care provider.
“Summit Health-CityMD has been a leader in delivering coordinated, multi-specialty care for decades. We are honored to work side-by-side with their 13,000 strong workforce who are passionately committed to delivering the best outcomes for millions of patients,” said VillageMD CEO and Chairman Tim Barry in the release.
Walgreens invested $5.2 billion in VillageMD last year, giving it...
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