Walgreens unit VillageMD to buy Summit Health in $9 billion deal By Reuters

(Reuters) -Walgreens Boots Alliance Inc’s primary care unit VillageMD said on Monday it will acquire urgent care provider Summit Health in a deal valued at nearly $9 billion.

The deal will feature investments from Walgreens and Cigna Corp (NYSE:)’s healthcare unit Evernorth.

Walgreens, the second-largest U.S. pharmacy chain, has been working towards increasing its footprint in healthcare to shift focus beyond its drugstores. It had invested $5.2 billion last year to raise its stake in VillageMD to 63% from 30%, following which the primary care provider’s clinics have increased from about 230 last year to over 340 clinics, with about 150 now operating at Walgreens pharmacies.