Walgreens Boots Alliance (Nasdaq: WBA) and VillageMD have announced that WBA has agreed to make an additional investment in VillageMD to advance its strategic position in the delivery of value-based primary care, a US$1 trillion, fast-growing segment of the healthcare system.
The US$5.2 billion investment will accelerate the opening of at least 600 Village Medical at Walgreens primary care practices in more than 30 U.S. markets by 2025 and 1,000 by 2027, with more than half of those practices in medically underserved communities.
Latham & Watkins LLP represents VillageMD in the transaction with a corporate deal team led by New York partners Nathan Ajiashvili and John Giouroukakis, Boston partner Dan Hoffman, with New York associates Teddy Ellison, Matthew DeSilva and Elizabeth Kim and Boston associate William Wright. Advice was also provided on tax matters by New York partner Jocelyn Noll and Washington, D.C. partner Andrea Ramezan-Jackson, with New York associate Shruti Hazra; on benefits & compensation matters by Washington, D.C. partner David Della Rocca, with Washington, D.C. associate Nikhil Kumar; on antitrust matters by Washington, D.C. partner Mandy Reeves, with Washington, D.C. counsel Peter Todaro; on finance matters by New York counsel Brian Rock, with New York associate Maciej Zielnik; on regulatory matters by Washington, D.C. partner Stuart Kurlander, with Washington, D.C. counsel Nicole Liffrig Molife; and on data and technology transactional matters by Boston partner Sarah Gagan.
In 2020, the firm also advised VillageMD in its partnership with Walgreens.