VillageMD is set to receive a total of $1bn in equity and convertible debt financing from Walgreens Boots Alliance over the next three years, giving the corporate a 30% stake.
Pharmacy operator Walgreens Boots Alliance (WBA) yesterday formed a $1bn strategic partnership agreement with US-based primary care provider VillageMD that included an initial investment of $250m.
The $1bn figure will consist of an undisclosed mix of equity and convertible debt financing that will be provided over the next three years. The $250m equity investment represents the first instalment and WBA will own a 30% stake in VillageMD once the debt has been converted into equity.
Founded in 2013, VillageMD runs…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
