Walgreens Boots Alliance will soon have doctor offices inside of hundreds of its U.S. drugstores. The pharmacy chain said Wednesday it has struck a deal with VillageMD, which will staff and run the primary-care clinics. The companies said they will open the clinics in 500 to 700 stores in more than 30 U.S. markets over the next five years. Walgreens will invest $1 billion in equity and convertible debt in VillageMD over the next three years as part of the deal, including a $250 million equity investment completed Wednesday. Most of the money will be used by VillageMD to open the clinics and integrate its technology with Walgreens. VillageMD will recruit and pay employeesÍ salaries, cover other operating expenses and pay Walgreens to use the space. Walgreens said it will own about 30% of the primary-care company after the multiyear investment.
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Source: https://www.cnbc.com/2020/07/08/walgreens-strikes-deal-to-open-hundreds-of-doctor-offices-in-stores.html