Sidley Represents Walgreens Boots Alliance in VillageMD’s US$8.9 Billion Acquisition of Summit Health-CityMD

Sidley is representing Walgreens Boots Alliance in connection with VillageMD’s agreement to acquire Summit Health-CityMD, a provider of primary, specialty, and urgent care, in a transaction valued at approximately US$8.9 billion. Walgreens is investing US$3.5 billion in VillageMD through a mix of equity and debt to support the acquisition, and it will remain the largest and consolidating equity holder of VillageMD with an approximately 53% ownership stake. Together, VillageMD and Summit Health-CityMD intend to create a multi-payor platform to deliver affordable care for patients. The acquisition enhances Walgreens’ robust portfolio of leading, integrated healthcare offerings across the care continuum.

The Sidley team is being led by Joe Michaels, Chris Abbinante, and Leigh Rorick (M&A and Private Equity); it includes Andre Rouillard, Diana DuBois, and Matt Nelson (M&A and Private Equity); Scott Pollock (Tax); Kim Schroer (Healthcare); and Colleen Theresa Brown and Matt Kahn (Privacy and Cybersecurity).