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Cigna | US Healthcare News | iPharmaCenter

VillageMD acquired Summit Health-CityMD.

VillageMD announced that it is acquiring Summit Health-CityMD, creating one of the largest independent healthcare providers in the US.

VillageMD mainly delivers primary healthcare services, and Summit Health-CityMD provides primary, specialty, and urgent care. The transaction is worth $8.9 billion, including investments from Walgreens Boots Alliance and Evernorth. In 2019, Summit Healthcare merged with CityMD to form Summit Health-CityMD.

The companies announced that with the acquisition, the combined company could use the value-based care of VillageMD and Summit Health-CityMD's expertise in delivering multispeciality care.

With the acquisition, VillageMD and SummitHealth-CityMD have more than 680 facilities across 26 regions.

Last year, Walgreens invested $5.2 billion into VillageMD to rollout doctor staffed clinical at its pharmacies. This helped Walgreens to gain more than 60% of its stake in VillageMD.

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