Doctors to be Staffed at Walgreens
Posted on 07/09/2020
Walgreens Boots Alliance, Inc. is moving to have doctors being placed inside hundreds of its U.S. drugstores, in a move that pharmacists already do.
VillageMD is a Chicago-based primary health care provider. VillageMD secured up to US$ 1 billion in equity and convertible debt from existing backer Walgreens Boots Alliance. This amount includes US$ 250 million in upfront equity. VillageMD plans to open at least 500 physician-staffed clinics inside of U.S. Walgreens locations over the next five years. VillageMD will recruit and pay the salaries of employees, cover other operating expenses, and pay Walgreens to use the space. Walgreens and VillageMD will convert an existing part of drugstores into the clinics. Most clinics will be about 3,300 square feet.
