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Walgreens Boots Alliance (Nasdaq: WBA) and VillageMD right now declared that WBA has accelerated its financial investment in VillageMD to aid the opening of 600 to 700 Village Clinical at Walgreens major care clinics in far more than 30 U.S. marketplaces within just the up coming 4 yrs, with the intent to create hundreds far more thereafter. Walgreens is the to start with nationwide pharmacy chain to supply whole-company principal care clinics co-found at its merchants at a huge scale.
In July of 2020, Walgreens and VillageMD declared an enlargement of their partnership and the intent to open 500 to 700 clinics, supported by WBA’s financial commitment in VillageMD around 3 decades of $1 billion in equity and convertible debt, which integrated an initial $250 million fairness investment. WBA and VillageMD have now re-negotiated the phrases of their agreements to help WBA to accelerate their investment decision to improve the tempo and scale of the rollout of the clinics and to modify specific other terms. As of right now, WBA’s $750 million expense has been accomplished.
“Walgreens is targeted on creating the pharmacy of the long run, furnishing a broad and meaningful vary of higher-quality, economical healthcare expert services to our individuals and consumers,” reported Stefano Pessina, executive vice chairman and CEO, Walgreens Boots Alliance. “Through these conveniently positioned clinics at our community outlets, we will uniquely integrate the pharmacist as a significant member of VillageMD’s multi-disciplinary care team to give clients with personalised and coordinated care.”
“Together with Walgreens, we stay steadfast in our motivation to supplying available, coordinated major care in extra communities nationwide,” stated Tim Barry, chairman and CEO at VillageMD. “Village Medical at Walgreens delivers a entire continuum of treatment to meet up with patients’ needs with a physician-led team of seasoned companies. Our substantial-tech, large-contact design provides excellent and personal treatment to additional people at a time when coordinated most important care is most crucial.”
In December of 2020, the companies introduced designs to open up the upcoming 40 whole-company major care clinics in Texas, Arizona and Florida by the finish of summer months 2021. With lots of clinics in medically underserved regions, Village Health-related at Walgreens will help satisfy the needs of individuals, such as those who could not have accessibility to healthcare and are at greater chance of overall health disparities. The clinics will take a extensive variety of well being coverage choices, providing charge-productive and thorough primary care to meet up with the complete continuum of health care desires. Health care services are available by a variety of strategies, offering obtain to Village Clinical care and support via in-particular person, at house and Village Professional medical telehealth providers on Walgreens Discover Care™, which is an online platform that connects clients with a wide selection of wellbeing companies.
For extra info about Village Health-related at Walgreens expert services, be sure to go to VillageMedical.com. For far more info as perfectly as multimedia assets, be sure to visit the Walgreens Newsroom on walgreens.com.
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is a world leader in retail and wholesale pharmacy, touching tens of millions of lives just about every working day via dispensing and distributing medicines, and as a result of its convenient retail spots, electronic platforms and wellness and splendor items. The firm has additional than 100 many years of trustworthy health care heritage and innovation in neighborhood pharmacy and pharmaceutical wholesaling.
Such as fairness system investments, WBA has a presence in additional than 25 nations around the world, employs much more than 450,000 individuals and has far more than 21,000 shops.
WBA’s goal is to aid persons throughout the planet lead much healthier and happier life. The organization is happy of its contributions to healthier communities, a balanced world, an inclusive office and a sustainable marketplace. WBA is a Participant of the United Nations Worldwide Compact and adheres to its concepts-primarily based solution to responsible small business.
WBA is integrated in FORTUNE’s 2020 checklist of the World’s Most Admired Corporations*, rated first in the meals and drugstore class. This is the 27th consecutive 12 months that WBA or its predecessor corporation, Walgreen Co., has been named to the record.
Extra firm data is obtainable at www.walgreensbootsalliance.com.
*© 2020, Fortune Media IP Limited. Applied less than license.
VillageMD, via its subsidiary Village Health care, is a top, nationwide provider of value-based major care products and services. VillageMD partners with medical professionals to deliver the equipment, technology, functions, staffing assistance and field associations to supply higher-high-quality scientific care and improved individual results, although lessening the complete cost of treatment. The Village Clinical brand offers key treatment for people at common absolutely free-standing clinics, Village Health care at Walgreens clinics, at household and by means of digital visits. VillageMD and Village Medical have developed to consist of much more than 2,800 doctors across nine markets, are dependable for about 600,000 lives and handle $4 billion in total health care spend in value-based contracts. To understand additional, please pay a visit to www.VillageMD.com.
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These and other challenges, assumptions and uncertainties are described in Item 1A (Chance Aspects) of our Once-a-year Report on Variety 10-K for the fiscal yr finished August 31, 2020 and in other documents that we file or furnish with the Securities and Trade Commission. Should really just one or additional of these threats or uncertainties materialize, or should really fundamental assumptions verify incorrect, real success may vary materially from all those indicated or expected by these ahead-looking statements. All ahead-wanting statements we make or that are made on our behalf are skilled by these cautionary statements. Accordingly, you are cautioned not to area undue reliance on these ahead-hunting statements, which discuss only as of the day they are produced.
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Check out supply edition on businesswire.com: https://www.businesswire.com/news/house/20210106005889/en/
Resource: Walgreens Boots Alliance
WBA: Usa / Morry Smulevitz +1 847 315 0517
Worldwide +44 ()20 7980 8585
VillageMD: Molly Lynch +1 773 505 9719
WBA Investor Relations
Gerald Gradwell and Jay Spitzer +1 847 315 2922
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