(Reuters) -Walgreens Boots Alliance Inc’s primary care unit VillageMD said on Monday it will acquire urgent care provider Summit Health in a deal valued at nearly $9 billion.
The deal will feature investments from Walgreens and Cigna Corp’s healthcare unit Evernorth.
Walgreens, the second-largest U.S. pharmacy chain, has been working towards increasing its footprint in healthcare to shift focus beyond its drugstores. It had invested $5.2 billion last year to raise its stake in VillageMD to 63% from 30%, following which the primary care provider’s clinics have increased from about 230 last year to over 340 clinics, with about 150 now operating at Walgreens pharmacies.
(Reporting by Leroy Leo in Bengaluru; Editing by Devika Syamnath)
