{"id":3124,"date":"2022-10-31T15:44:36","date_gmt":"2022-10-31T15:44:36","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=3124"},"modified":"2022-10-31T15:44:36","modified_gmt":"2022-10-31T15:44:36","slug":"global-villagemd-eyes-merger-deal-with-summit-health-report-says","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/global-villagemd-eyes-merger-deal-with-summit-health-report-says\/","title":{"rendered":"Global: VillageMD Eyes Merger Deal With Summit Health, Report Says"},"content":{"rendered":"

Walgreens-controlled healthcare provider VillageMD<\/a> is reportedly considering a possible merger with Summit Health<\/a>.<\/p>\n

According to a Sunday (Oct. 30) Bloomberg News report<\/a>, unnamed sources said the deal with Summit, a healthcare network and parent company of CityMD, would value the combined company at $5 billion to $10 billion.<\/p>\n

An agreement could happen in the coming weeks, although negotiations could still break down, the report stated.<\/p>\n

Walgreens invested $5.2 billion in VillageMD in 2021, increasing its stake in the company from 30% to 63%.<\/span><\/p>\n

The news comes at a time when the company’s competitors are expanding their healthcare offerings. For example, there were reports earlier this month that CVS<\/a> was considering purchasing primary healthcare provider Cano Health<\/a>.<\/p>\n

That news followed CVS Health’s September announcement that it had closed an $8 billion deal to acquire Signify Health<\/a>, which uses analytics and technology to provide in-home care for health plans, employers, physician groups and health systems.<\/p>\n

Walgreens, meanwhile, is looking to simplify its operations under three business units as part of its transformation into a \u201cconsumer-centric healthcare\u201d company.<\/p>\n

With prescriptions down alongside a retreat in COVID-19 vaccines and related care, Walgreens \u2014 like all of its major peers \u2014 is making a shift to deliver a range of treatments and services to customers that go well beyond dispensing medicine.<\/p>\n

\u201cWe are rapidly scaling U.S. healthcare and are already raising long-term sales targets with a clear path to achieve profitability starting in fiscal year \u201924,\u201d CEO Rosalind Brewer<\/a> said on an earnings webcast. \u201cIt\u2019s early, but our strategy is working, and we\u2019re making good progress on each of our four priorities, which are simplifying and strengthening the company.\u201d<\/p>\n

Brewer also touted the expansion of the company\u2019s rapidly growing in-home treatment business as a centerpiece of its consumer-centric focus, as evidenced by its plan to acquire CareCentrix.<\/p>\n","protected":false},"excerpt":{"rendered":"

Walgreens-controlled healthcare provider VillageMD is reportedly considering a possible merger with Summit Health. According to a Sunday (Oct. 30) Bloomberg News report, unnamed sources said the deal with Summit, a…<\/p>\n","protected":false},"author":1,"featured_media":3125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[73,80],"tags":[],"class_list":["post-3124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/regtechafrica.com\/healthcare\/wp-content\/uploads\/2022\/10\/945BBB72-F684-4BB3-BBE5-8A7847D03E32.jpeg?fit=766%2C400&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/comments?post=3124"}],"version-history":[{"count":1,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3124\/revisions"}],"predecessor-version":[{"id":3126,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3124\/revisions\/3126"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media\/3125"}],"wp:attachment":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media?parent=3124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/categories?post=3124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/tags?post=3124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}