VillageMD said Thursday that the previously disclosed acquisition of Summit Health and CityMD for $8.9 billion is complete.
“Our new organization will continue to be patient-centered, physician-led and committed to transforming the way health care is delivered in the United States,” Tim Barry, chair and CEO of VillageMD, stated. “As we combine forces, our workforce of 20,000 people will have even more expertise, tools and resources to provide the best care for our patients — whenever and wherever care is needed.”
In early November, VillageMD announced it entered a definitive agreement to acquire Summit Health and CityMD with investments from Walgreens Boots Alliance Inc. and Evernorth, the health services business of Cigna Corp.
Together, VillageMD and Summit Health will have more than 680 provider locations in 26 markets — with a strong footprint in New Jersey and the Northeast. (Evernorth recently opened a new headquarters in Morris Plains; VillageMD is located in Deerfield, Illinois.)
“Providing high-quality care with a focus on clinical outcomes in an exceptional patient experience is in the DNA of both organizations,” Barry added. “Together, we are poised to deliver on the promise of value-based care for more communities, families and individuals.”
VillageMD is conducting a national search for a president of the company, reporting directly to Barry. Dr. Jeff LeBenger, current chair and former CEO of Summit, will act as interim president.
