Walgreens-backed VillageMD to pay $8.9 billion for Summit Health

Primary care provider VillageMD has agreed to acquire medical practice Summit Health for $8.9 billion including debt, Healthcare Dive reports. VillageMD, which is majority owned by pharmacy chain Walgreens Boots Alliance Inc., and Summit Health, the parent company of CityMD, plan to combine their provider locations and VillageMD’s experience with value-based care. Cigna Corp.’s health services division Evernorth is also taking a stake in the deal and will become a minority owner in VillageMD.