Walgreens and VillageMD have tested their primary care model by opening five in-store clinics in the Houston area in November. (Photo: Ken Wolter/Shutterstock)
There will soon be a doctor in the house at Walgreens.
The pharmacy chain has struck a deal with VillageMD to have primary care clinics in 500 to 700 of its stores over the next five years, CNBC reports. As part of the deal, Walgreens will invest $1 billion in equity and convertible debt in VillageMD over the next three years, including a just-completed $250 million equity investment.
VillageMD will run and staff the clinics. The primary care provider will also recruit employees and pay their salaries, as well as paying Walgreens to use the space.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
