December 2, 2022

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

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VillageMD, which is bulk owned by Walgreens Boots (NASDAQ:WBA) is stated to assessing a deal to merge with Warburg Pincus-backed Summit Wellbeing, the dad or mum of CityMD.

The acquisition of Summit Overall health is envisioned to worth the mixed firm in between $5 billion to $10 billion, according to a Bloomberg report, which cited people familiar. A deal could come together in the coming weeks, though talks may perhaps fall apart.

The talks occur soon after Walgreens (WBA) a small much more than a yr back declared that it has built an further expense of $5.2B in VillageMD doubling the firm’s possession stake in the major care products and services supplier. The expense greater WBA’s possession stake in VillageMD to 63% from 30%.

Summit Wellness and CityMD merged in August 2019.

The likely offer follows a flurry exercise in the health and fitness/major care area in latest months including Amazon’s (AMZN) $3.9 billion announced acquire of A single Healthcare (ONEM) in July and CVS Health’s (CVS) deal to obtain Signify Well being (SGFY) for about $8 billion early past thirty day period.

CVS Wellbeing (CVS) was also stated to be in special to talks to invest in Cano Wellness (CANO), nevertheless CVS has reportedly walked away from the conversations.

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