- Pharmacy operator Walgreens (NASDAQ:WBA) continues to make further inroads into primary care as its majority owned VillageMD unit announced on Friday the acquisition of Starling Physicians, a multispecialty medical group operating over 30 locations in Connecticut.
- In addition to primary care, Starling Physicians offers a range of services, covering cardiology, ophthalmology, endocrinology, nephrology, and senior care.
- “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,” remarked Tim Barry, VillageMD’s chairman and chief executive officer.
- “This is a natural extension of our growth in the Northeast, including our recent acquisition of Summit Health-CityMD,” he added. The financial terms of the transaction were not disclosed.
- The acquisition comes weeks after VillageMD finalized a ~$8.9B deal in January to acquire Summit Health which operates the urgent care clinic chain CityMD.
- Seeking Alpha contributor Bashar Issa argued in August that Walgreens (WBA) is aggressively spending on primary care at the expense of its balance sheet health.
Source: Seeking Alpha