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…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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