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Deal Date: 08-07-2020 Practice Area: Corporate and M&A
Deal Title: Walgreens Boots Alliance Investment in VillageMD Industry: Healthcare Equipment & Services
VillageMD and Walgreens Boots Alliance, Inc. announced that Walgreens would be the first national pharmacy chain to offer full-service doctor offices co-located at its stores at a large scale, following a trial begun in 2019. This expanded partnership was to open 500 to 700 Village Medical at Walgreens physician-led primary care clinics in more than 30 US markets in the following five years, with the intent to build hundreds more thereafter. Under the terms of the new agreement, WBA would invest USD1 billion in growth equity and convertible debt in VillageMD over the next three years, including a USD250 million equity investment to be completed July 8, 2020. Latham and Watkins LLP represents VillageMD in the financing transaction.
Financial Center: New York Value: 1000.01-5000.00
Advised Party: Joint Venture Party Law Firm
JV Party Jurisdiction United States JV Party Jurisdiction United States
Classification: Joint Ventures Continuing Business Partnership
Lawyer Nathan Ajiashvili