The Walgreens pharmacy chain has struck a deal with VillageMD to have primary care clinics in 500 to 700 of its stores over the next five years, CNBC reports. As part of the deal, Walgreens will invest $1 billion in equity and convertible debt in VillageMD over the next three years, including a just-completed $250 million equity investment.
VillageMD will run and staff the clinics. The primary care provider will also recruit employees and pay their salaries, as well as paying Walgreens to use the space.
VillageMD says its clinics will accept different kinds of health insurance, often with copays of up to $10. People can also pay out of pocket, and there will be a sliding scale for those without insurance to help make care affordable. Read More: BenefitsPRO