Reportedly, Walgreens Boots Alliance (WBA) has increased its investment in VillageMD to support the opening of 600 to 700 Village Medical at Walgreens primary care clinics in more than 30 U.S. markets within the next four years, with an intent to build more in near future.
Last year in July, Walgreens and VillageMD announced an expansion of their partnership with the intent to open 500 to 700 clinics over three years with WBA’s investment in VillageMD of $1 billion in equity and convertible debt including an initial $250 million equity investment. However, now Walgreens and VillageMD have revised the terms of the agreement to speed up the pace and scale of the rollout of the clinics. As of today, WBA’s $750 million investment has been completed.
Village Medical at Walgreens will be equipped to meet the needs of patients, particularly those who may not have access to basic healthcare needs and are at higher risk of health disparities. A wide range of health insurance schemes will also be accepted at the clinics, offering cost-effective and comprehensive primary care. In December last year, the companies announced plans to make available the next 40 full-service primary care clinics in Texas, Arizona, and Florida by the end of summer 2021.
“Walgreens is focused on creating the pharmacy of the future, providing a broad and meaningful range of high-quality, affordable healthcare services to our patients and customers,” “Through these conveniently located clinics at our neighborhood stores, we will uniquely integrate the pharmacist as a critical member of VillageMD’s multi-disciplinary care team to provide patients with personalized and coordinated care.” stated Stefano Pessina, executive vice chairman and CEO, Walgreens Boots Alliance.
Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.
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