VillageMD Acquires Summit Health-CityMD, Creating one of the Largest Independent Provider Groups in the U.S.

With Investments from WBA and Evernorth, the Combined Company Will Deliver a Unique and Comprehensive Patient Experience for Optimal Individual and Community Outcomes VillageMD announced today it has entered a definitive agreement to acquire Summit Health-CityMD, a leading provider of primary, specialty and urgent care. The transaction is valued at approximately $8.9 billion with investments from Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and an affiliate of Evernorth, a subsidiary of Cigna Corporation (NYSE:CI). Together, VillageMD and Summit Health-CityMD will create a multi-payor platform to deliver quality, affordable care for all patients. 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 longstanding and deep expertise delivering multispecialty, connected care. It also enhances WBA’s robust portfolio of leading, integrated healthcare offerings across the care continuum. Summit Health-CityMD has a strong footprint in the northeast United States and Oregon. Together, VillageMD and Summit Health will have more than 680 provider locations in 26 markets. “This is an epic milestone in our journey to transform healthcare in the United States. Summit Health-CityMD has been a leader in delivering coordinated, multi-specialty care for decades. We are honored to work side-by-side with their 13,000 strong workforce who are passionately committed to del...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Ambulatory Health IT Company Healthcare IT CIGNA Cigna Corporation CityMD Eric Palmer Evernorth Health IT Acquisitions Healthcare M&A Jeff Alter Patient Experience Roz Brewer Summit Health Summit Health-CityMD Tim Barry Vil Source Type: blogs