Information that VillageMD is contemplating an preliminary public providing could be the newest main care supplier to develop into publicly-traded to spice up its enlargement efforts.
Bloomberg News Wednesday reported VillageMD, which final yr bought a $1 billion funding from Walgreens Boots Alliance, is “planning to go public.” Already publicly-traded is One Medical, which launched its IPO last year, whereas there are others together with startups backed by enterprise capital companies, well being insurers and personal fairness taking a look at IPOs, according to reports.
VillageMD is already well-funded and rolling out a significant enlargement of its physician-staffed clinics due to Walgreens. Neither Walgreens nor VillageMD had a remark Wednesday following the Bloomberg story.
Walgreens final July mentioned it’ll make investments $1 billion in its main care accomplice VillageMD to open 500 to 700 physician-staffed clinics inside its drugstores in additional than 30 U.S. markets inside the subsequent 5 years. Walgreens govt chairman Stefano Pessina referred to as the partnership the “most related improvement” for the pharmacy large in the course of the 2020 Forbes Healthcare Summit in December.
Within the Walgreens effort with VillageMD, the clinics will construct on the two,500-square-foot services that opened in 2019 subsequent to 5 Walgreens shops within the Houston space and are referred to as “Village Medical at Walgreens.” Many of the new Village Medical At Walgreens clinics will likely be 3,300 sq. toes however some will likely be as giant as 9,000 sq. toes, the businesses have mentioned.
Walgreens main care enlargement comes as rivals roll out their very own main care expansions. CVS Well being is opening 1,500 HealthHub retailer codecs with extra healthcare gadgets and medical companies to enhance its established MinuteClinics staffed by nurse practitioners whereas Walmart is opening extra “Walmart Well being” facilities that function an array of main medical companies, dental care, and behavioral well being companies as a part of a brand new mannequin.
“At Village Medical at Walgreens, our skilled physicians and suppliers work carefully with Walgreens pharmacists every single day to make sure sufferers get accessible, customized and coordinated care once they want it,” VillageMD chief govt Tim Barry mentioned final yr. “In at this time’s advanced healthcare atmosphere, this built-in mannequin of care is extra essential than ever. When sufferers adhere to the suitable care and medicine regime, well being outcomes enhance.”