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On November 7, 2022, VillageMD announced that it had entered a definitive agreement to acquire Summit Health-CityMD. Both organizations provide primary care. CityMD also provides specialty and urgent care. Closing is expected during the first quarter of 2023. The transaction is valued at approximately $8.9 billion, with investments from Walgreens Boots Alliance, Inc. (WBA) and an affiliate of Evernorth, a subsidiary of Cigna Corporation. WBA, which owns a majority share of VillageMD, will invest $3.5 billion to support the acquisition and will remain the largest shareholder of VillageMD with approximately 53% ownership.
Together, VillageMD and Summit Health . . .

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