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Walgreens & VillageMD Partnering To Open Up To 700 Full-Service Doctor Offices Attached to Drug Stores in US

By John F. Heerdink, Jr.

Reportedly, Walgreen Boots Alliance (WBA) is partnering with primary care provider VillageMD to offer doctor offices attached to its drugstores across the United States as a move to expand and offer healthcare services under one roof. The company is planning to open 500 to 700 physician-led primary care clinics in more than 30 U.S. markets over the next five years, as per reports. The clinics would accept a wide range of health insurance options, and offer telehealth and at-home visits,

Walgreens to invest $1 billion in equity and convertible debt in VillageMD over the next three years, along with a $250 million equity investment to be completed this week for a 30% ownership interest in the privately held company.

Walgreens has been facing competition with rival CVS Health Corp, as CVS first launched a handful of stores along with expanded health services called ‘health hubs’ in Houston earlier this year and plans to expand these services at 1,500 stores by the end of 2021.

VillageMD, through its subsidiary Village Medical, is a leading, national provider of value-based primary care services.

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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Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walgreens partners with VillageMD to open primary care clinics at drug stores in Reuters)


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