VillageMD, a fast-growing developer of primary care clinics, has raised another $100 million as the startup looks to expand its model across the country.
The latest round of funding was led by investment firm Kinnevik, which invested $75 million, and has placed some other successful bets in the healthcare industry lately. Other investors in the latest round include Oak HC/FT, Town Hall Ventures, which was co-founded by former Obama White House Medicare administrator Andy Slavitt, and Adams Street Partners. In all, VillageMD has raised more than $215 million, which includes a round announced earlier this year.
“Partnering with these world-class investors, who share our vision and bring us fresh capital and new capabilities, allows us to impact more patients and ultimately improve the quality of care in our country,” VillageMD co-founder and chief executive Tim Barry said in a statement Wednesday morning.
Launched in 2013, VillageMD earlier this year announced a high-profile partnership with Walgreens Boots Alliance in Houston. By partnering with Chicago-based VillageMD, Walgreens said it is focusing on “providing adult patients in the Houston community with a transformative primary care experience.”
In VillageMD, Walgreens is partnering with a company that will operate primary care clinics that have contracts with physicians. The 2,500-square-foot clinics, which are scheduled to open by the end of this year, are being located next to five Walgreens stores in the Houston area and be called “Village Medical at Walgreens.”
Date: September 05, 2019