VillageMD rumored to be in merger talks with Summit Health
VillageMD, a primary care provider majority owned by Walgreens, is reportedly in talks to merge with Summit Health, a large medical group with more than 340 practice locations.
If VillageMD were to acquire Summit Health, the combined entity could be worth between $5 billion and $10 billion. Bloomberg was first to report the news of the potential merger.
An agreement for the deal could be reached in the coming weeks, though no deal has been struck and the merger could still fall apart in talks, according to Bloomberg, which cited people familiar with the matter.
Walgreens is a majority owner in VillageMD, and the retail giant expanded its ownership in the primary care company last year. Walgreens also opened up a new business, Walgreens Health, late last year thanks to its partnerships with VillageMD and CareCentrix. Walgreens also recently expanded on its ownership with CareCentrix by acquiring the remaining share for $392 million in October 2022.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."