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Village MD Acquires Summit Health - City MD for $8.9B

Updated: Dec 15, 2022

Together, Village MD and Summit Health will have more than 680 provider location in 26 markets.

VillageMD entered a definitive agreement to acquire Summit Health-CityMD, a provider of primary, specialty and urgent care. The transaction is valued at approximately $8.9 billion with investments from Walgreens Boots Alliance and an affiliate of Evernorth, a subsidiary of Cigna.

Together, VillageMD and Summit Health-CityMD will create a multi-payer platform to deliver quality, affordable care for all patients. The combined company leverages VillageMD’s deep expertise in value-based care to support and accelerate the transition to more risk-based care and Summit Health-CityMD’s expertise delivering multispecialty, connected care. It also enhances WBA’s robust portfolio of leading, integrated healthcare offerings across the care continuum.

SOURCE: Drug Store News

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