Walgreens Boots Alliance (WBA) has turbo-charged its investment into VillageMD to facilitate the opening of between 600 and 700 new Village Medical at Walgreens primacy care clinics in the next four years, according to a press release.
The companies intend to build “hundreds more” in the coming years, too, the release noted.
“Together with Walgreens, we remain steadfast in our commitment to providing accessible, coordinated primary care in more communities nationwide,” said VillageMD Chairman and CEO Tim Barry, according to the release. “Village Medical at Walgreens offers a full continuum of care to meet patients’ needs with a physician-led team of experienced providers. Our high-tech, high-touch model delivers exceptional and personal care to more patients at a time when coordinated primary care is most critical.”
The partnership between the two companies was expanded in July of last year after Walgreens’ three-year $1 billion investment into VillageMD, the release stated. The investment was through equity and convertible debt. The agreement was adjusted so that WBA could boost its investment and expedite the pace and scale of the development of clinics.
And, in December, both companies rolled out plans to open their next 40 clinics in Arizona, Florida and Texas by the end of this summer, the release stated, with many of them slated to come to medically underserved areas where people are consequently at risk of greater medical issues.
“Walgreens is focused on creating the pharmacy of the future, providing a broad and meaningful range of high-quality, affordable healthcare services to our patients and customers,” said Stefano Pessina, executive vice chairman and CEO of Walgreens Boots Alliance, in the release, adding the company plans to “uniquely integrate the pharmacist as a critical member of VillageMD’s multi-disciplinary care team to provide patients with personalized and coordinated care.”
Barry, speaking with PYMNTS last summer, said it is important that primary care physicians have access to better tools and tech to do their jobs.