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The deal will feature investments from Walgreens and Cigna Corp (NYSE:CI)’s healthcare unit Evernorth.
Walgreens, the second-largest U.S. pharmacy chain, has been working towards increasing its footprint in healthcare to shift focus beyond its drugstores. It had invested $5.2 billion last year to raise its stake in VillageMD to 63% from 30%, following which the primary care provider’s clinics have increased from about 230 last year to over 340 clinics, with about 150 now operating at Walgreens pharmacies.
