Sidley is representing Walgreens Boots Alliance in its agreement to invest US$5.2 billion in VillageMD. Through its partnership with VillageMD, Walgreens is the first national pharmacy chain to offer full-service primary care practices with primary care physicians and pharmacists co-located at its stores at a large scale. The investment will increase Walgreens’ ownership stake in VillageMD to 63%. The investment will accelerate the opening of at least 600 Village Medical at Walgreens primary care practices in more than 30 U.S. markets by 2025 and 1,000 by 2027, with more than half of those practices in medically underserved communities.
The deal team included Chris Abbinante, Joe Michaels, Leigh Rorick, Jason Nichol, and Jackson Long (M&A); Scott Pollock and Nate Enfield (Tax); Matt Johnson and Marian Fielding (Employee Benefits and Executive Compensation); and Colleen Theresa Brown (Privacy and Cybersecurity).