VillageMD
Dr. Sashi Moodley, chief medical officer at Walgreens, discusses the reasoning behind the pharmacy store chain's recently announced closures of VillageMD clinics.
Walgreens-backed VillageMD signed an agreement to purchase Summit Health, a multispecialty medical practice and parent company of urgent care provider CityMD. The deal is expected to close early next year.
During its earnings call this week, Walgreens' CEO said the company would invest in an organization currently achieving EBITDA.
Late last year, VillageMD announced its plans to go public through an IPO.
This comes roughly a year after Walgreens pledged to invest $1 billion in equity and convertible debt in VillageMD over a three-year time frame.
Also: VillageMD's new chief innovation officer, and Hims & Hers brings on behavioral health expertise.