Summit Health-CityMD has been a leader in delivering coordinated, multi-specialty care for decades," said Tim Barry, CEO and chair of VillageMD.
“This is an epic milestone in our journey to transform healthcare in the United States. Together, VillageMD and Summit Health will have more than 680 provider locations in 26 markets. Summit Health-CityMD has a strong footprint in the northeast United States and Oregon. It also enhances WBA’s robust portfolio of leading, integrated healthcare offerings across the care continuum, the companies said. 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.
Together, VillageMD and Summit Health-CityMD will create a multi-payer platform to deliver quality, affordable care for all patients.
The transaction is valued at approximately $8.9 billion with investments from Walgreens Boots Alliance and an affiliate of Evernorth, a subsidiary of Cigna. VillageMD entered a definitive agreement to acquire Summit Health-CityMD, a provider of primary, specialty and urgent care.
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