What's happened since Walgreens' $8.9M acquisition of Summit Health 

It has been more than one year since VillageMD, majority owned by Walgreens, completed its acquisition of Summit Health-CityMD in January 2023. 

The deal gave Walgreens access to more than 2,800 providers and created one of the largest independent provider groups in the country. With the acquisition, VillageMD more than doubled its locations, from more than 250 to more than 680 in 26 markets.

VillageMD operates 680 clinics majoriy-owned by Walgreens Boots Alliance, including 200 clinics co-located with Walgreens and 170 third-party clinics at its stores.

Here are eight major updates that have happened since, in reverse chronological order:

1. In March, Walgreens announced plans to cut its workforce in Florida and Connecticut by nearly 650 workers.

2. In February, Walgreens named the CEO of Solera Health as its new U.S. healthcare president, as well as named a permanent global CFO.

3. Village MD confirmed plans to exit the Illinois market, for which it has six clinics, in April, a spokesperson confirmed to Becker's in February.

4. In February, VillageMD said it will close about 40 clinics in Florida, exiting the market entirely by March 15.

5. In December, VillageMD said it will exit the Indiana market and close a dozen clinics in the state. 

6. In October, Walgreens first announced its plan to cut at least $1 billion in costs as it prepares to welcome its new CEO. 

7. In June, Walgreens offloaded its remaining stake in infusion company Option Care Health for $330 million.

8. In March 2023, VillageMD acquired a 30-location primary care group, Rocky Hill, Conn.-based Starling Physicians.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Webinars

Featured Whitepapers

Featured Podcast