Walgreens-backed VillageMD exploring deal with Summit Health (NASDAQ:WBA)

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VillageMD, which is vast majority owned by Walgreens Boots (NASDAQ:WBA) is explained to assessing a deal to merge with Warburg Pincus-backed Summit Health and fitness, the guardian of CityMD.

The acquisition of Summit Overall health is envisioned to worth the put together company among $5 billion to $10 billion, in accordance to a Bloomberg report, which cited people today common. A deal could appear jointly in the coming months, although talks may drop apart.

The talks occur just after Walgreens (WBA) a little additional than a yr back declared that it has made an supplemental investment decision of $5.2B in VillageMD doubling the firm’s possession stake in the key treatment expert services provider. The expenditure improved WBA’s ownership stake in VillageMD to 63% from 30%.

Summit Health and CityMD merged in August 2019.

The opportunity deal follows a flurry activity in the wellbeing/main care area in latest months like Amazon’s (AMZN) $3.9 billion introduced acquire of Just one Medical (ONEM) in July and CVS Health’s (CVS) deal to obtain Signify Wellness (SGFY) for about $8 billion early very last thirty day period.

CVS Health (CVS) was also explained to be in unique to talks to buy Cano Wellbeing (CANO), nevertheless CVS has reportedly walked absent from the conversations.

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