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VillageMD, the developer of doctor practices and clinics backed by Walgreens, has acquired Starling ... [+] Physicians, a big medical group in Connecticut with more than 30 locations across the state, the company said March 3, 2023.
Walgreens and VillageMDVillageMD, the developer of doctor practices and clinics backed by Walgreens, has acquired a big medical group in Connecticut with 30 locations across the state.
VillageMD said it has acquired Starling Physicians, which has primary care and multi-specialty physicians for an undisclosed sum. Starling has more than 30 locations in Connecticut “offering primary care and “a range of specialties including cardiology, ophthalmology, endocrinology, nephrology, and geriatric care,” the companies said.
The acquisition comes amid an historic time for doctor practices, which are being purchased at an unprecedented pace by large retailers like Walgreens Boots Alliance, CVS Health, Amazon and Walmart. Meanwhile, medical care providers owned by health insurers like UnitedHealth Group’s Optum and Cigna’s Evernorth are also in the doctor practice bidding war.
“Starling shares our vision of being a physician-led model and they provide care in a compassionate and exceptional way to all the patients they serve, VillageMD chairman and chief executive officer Tim Barry said. “By integrating primary care with specialty care, we are able to optimize access to high-quality care for our patients. This is a natural extension of our growth in the Northeast, including our recent acquisition of Summit Health-CityMD.”
To be sure, VillageMD announced the purchase of Summit Health-CityMD last year for $8.9 billion to expand doctor-staffed clinics across the country. That transaction also included investments from Walgreens Boots Alliance, which already owns more than 60% of VillageMD, and Cigna’s health services business Evernorth.
Primary care provider Summit Health merged with CityMD in 2019 to create a company with more than 1,400 healthcare providers that offer primary, specialty and urgent care.
The addition of Starlings practices gives VillageMD a reach into nearly 700 markets across the U.S.
“Through Village Medical, Village Medical at Home, Summit Health, CityMD and other practices, VillageMD serves millions of patients throughout their lives, wherever and whenever they need care,” the company said. “Its dedicated workforce of more than 20,000 operates from 680 practice locations in 26 markets.”
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