Practice Management
After nearly 100 years as a publicly traded company, Walgreens is going private as part and parcel of a $10 billion buyout deal with private-equity firm Sycamore Partners. The company is on-task to sell Village Medical, Summit Health and CityMD clinic brands, all of which are operated under the VillageMD line of business. Many saw this massive leveraged buyout coming, although the on-again, off-again speculation hinted at prolonged negotiations. For the moment, there is no …
Read More
CEO Tim Barry, the founder and top executive of VillageMD, is stepping down from his role as the company faces significant financial difficulties. Majority owner Walgreens Boots Alliance has reported substantial losses amounting to billions of dollars, according to Forbes. VillageMD has struggled for more than a decade to attract patients to its clinics located within Walgreens retail stores. This has led to a sharp reduction in its intended expansion plans to stand up clinics …
Read More
Walgreens recently completed the sale of 11 VillageMD clinics in Rhode Island to Arches Medical Partners (AMP), based in Boston. The sale is part of Walgreens’ broader initiative to boost profitability by divesting VillageMD primary care locations, following a period of weak fourth-quarter earnings in 2023. This week, the company announced 160 VillageMD clinics have been slated for closure—100 more than previously announced. The company recently exited the Florida market entirely and this week announced …
Read More