How Walgreens' Doctor Bet Ended in a $15.4 Billion Write-Down
Walgreens wanted its pharmacies to become the front door of American healthcare. It ended with $15.4 billion of gross write-downs and a private equity breakup.
In this episode of Deal Alchemist, Xpertegic Partners breaks down Walgreens' bet on VillageMD: a $5.2 billion deal for control in 2021, backing for VillageMD's $8.9 billion acquisition of Summit Health–CityMD in 2023, and the unwind that followed.
The strategy made sense on paper. Walgreens sat downstream of every clinical decision, and owning primary care practices would move it upstream, to where prescriptions, referrals and care…
The skinny
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