Walgreens Boots Alliance Inc.'s primary care unit VillageMD said Monday it will acquire urgent care provider Summit Health in a deal valued at nearly $9 billion.
The deal will feature investments from Walgreens and Cigna Corp.'s healthcare unit Evernorth.
Walgreens, the second-largest U.S. pharmacy chain, has been working towards increasing its footprint in healthcare to shift its focus beyond its drugstores.
It had invested $5.2 billion last year to raise its stake in VillageMD to 63% from 30%, following which the primary care provider's clinics have increased from about 230 last year to over 340 clinics, with about 150 now operating at Walgreens pharmacies.
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