Walgreens will invest $1 billion to open primary care clinics run by VillageMD in 500 to 700 of its stores over the next five years. The bulk of the investment will be used by VillageMD to open the clinics and integrate its technology, which includes a proprietary operating system, analytics, and telemedicine.
The new clinics will be between 3,300 and 9,000 square feet, and will have a minimum of nine exam rooms, one waiting area, and a physician-led staff of four. They will also offer home and virtual visits.
The decision comes after the two companies opened five clinics at Walgreens stores in Houston last fall. The retail pharmacy chain will own nearly a third of VillageMD once the investment is concluded.
HIStalk Practice Musings
I’ve seen this book mentioned a time or two over the last six months, and so I think it’s about time I add it to my must-read list. I’d love to share reviews from HIStalk Practice readers who’ve already read it.
I enjoy learning what industry executives are reading in their spare time. SailPoint’s latest book club blog post lists the favorite titles of SVP of Strategic Innovation Dave Hendrix: “Ishmael: An Adventure of the Mind and Spirit” by Daniel Quinn, “The Art of Happiness” by The Dalai Lama, “Blink: The Power of Thinking Without Thinking,” by Malcom Gladwell, and “Subscribed” by Tien Tzuo.
Speaking of book clubs, this article makes the case for why now is the perfect time to start a corporate one: “Starting the book club has been immensely impactful on our team during this time,” says one Zappos book club lead. “I think as we transitioned to working from home, it helped with keeping a sense of normalcy, and also helps us keep our core values and connections alive, even if we can’t physically be together.”
Acquisitions, Funding, Business, and Stock
Doctor on Demand raises $75 million in a Series D investment round that brings its total funding to just under $236 million.
In Canada, EHR vendor Medfar Clinical Solutions acquires competitor Plexia for an undisclosed amount.
Virtual chronic care management company Orb Health hires Tyler Downs (MedeAnalytics) as VP of engineering.
Announcements and Implementations
California-based primary care practice Lifestyle Medical implements Carium’s care coordination and patient engagement and relationship management software.
Innovaccer adds RubiconMD’s e-consult capabilities to its Data Activation Platform, which aggregates data from multiple health IT systems.
OpenDoctor integrates ImagineSoftware’s patient payment technologies with its patient portal.
- Hitchhiker’s Guide to Managing a Sustainable Patient Mix (AdvancedMD)
- How to Digitize Your Front Office (EClinicalWorks)