Walgreens Boots Alliance invests $1B in VillageMD to open 500+ medical clinics, expand telehealth: 6 details

Walgreens Boots Alliance invested $1 billion in VillageMD to add full-service primary care physician offices and telehealth services to hundreds of locations across the U.S.

Six things to know:

1. Walgreens and VillageMD have already rolled out co-located clinics in Houston-area stores. Since opening in November 2019, the stores have reported high patient satisfaction and achieved a Net Promoter Score of more than 90. The clinics also reported increased medication adherence.

2. The partnership aims to open integrated primary care physician offices co-located in Walgreens stores at 500 to 700 locations in more than 30 U.S. markets through 2020. More than half of the locations will be in underserved areas or those designated as having a shortage of medical professionals.

3. The physician-led Village Medical at Walgreens clinics will be staffed by 3,600 physicians, recruited by VillageMD.

4. Clinics will accept several health insurance options and offer telehealth 24/7 as well as at-home visits. VillageMD and Walgreens already made telehealth available to providers on Walgreens Find Care, an online platform that connects patients with virtual services.

5. Eighty percent of WBA's $1 billion equity and convertible debt investment will fund clinic openings and build partnerships, as well as integrate with Walgreens data assets. The company invested $250 million today and aims to complete the rest of the investment over the next three years.

6. WBA now has 30 percent ownership in VillageMD.

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