Published on
After months of restructuring, Walgreens Boots Alliance is now a private company following its acquisition by private equity firm Sycamore Partners, according to an announcement. Part of the deal includes the majority investment in Village Medical/Village MD’s healthcare offerings. The entire portfolio will now operate as 5 standalone companies: Walgreens; The Boots Group; Shields Health Solutions; CareCentrix; and VillageMD. Each will continue to function independently, retaining their existing brands. The total Sycamore Partners transaction value is nearly $24 billion, according to Beckers.
Not according to plan: In 2021, the last roadmap for VillageMD included an ambitious goal of getting 600 clinic locations up and running by this year. However, growth stalled quickly, followed by net losses, and Walgreens ended up closing at least 160 clinics last year. Even before the acquisition was finalized, Sycamore and Walgreens made it clear they intended to divest VillageMD, which includes Village Medical, Summit Health, and CityMD.