Insider Intelligence November 1, 2022
Rajiv Leventhal

The news: Walgreens-backed VillageMD is in talks to acquire medical group Summit Health in a deal that would value the combined companies at between $5 billion and $10 billion, according to a Bloomberg report.

Breaking down the players: Both organizations have accelerated their healthcare businesses.

  • Walgreens more than doubled its ownership stake in VillageMD last year—from 30% to 63%­—with a $5.2 billion investment. Walgreens said at the time it planned to open 1,000 VillageMD clinics by 2027.
  • Per the retailer’s Q4 earnings call, there are 150 co-located clinics now open, with a goal of getting to 200 by the end of 2022. VillageMD also operates a few hundred clinics without Walgreens.
  • Summit Health was created...

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Topics: Mergers & Acquisitions / JV, Pharma, Pharma / Biotech, Primary care, Provider, Trends, Urgent care
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