Sheppard Mullin Advises VillageMD in $8.9 Billion Acquisition of Summit Health-CityMD
Sheppard Mullin is representing VillageMD in its agreement to acquire Summit Health-CityMD, a leading provider of primary, specialty and urgent care. Sheppard Mullin is leading the merger transaction, as well as the antitrust and healthcare regulatory side of the deal for VillageMD. The transaction is valued at approximately $8.9 billion with investments in VillageMD from Walgreens Boots Alliance, Inc. and Evernorth, a subsidiary of Cigna Corporation. The firm is also advising VillageMD in its value-based strategic collaboration with Evernorth.
Together, VillageMD and Summit Health-CityMD will create a multi-payor platform to deliver quality, affordable care for all patients. The combined company will have more than 680 provider locations and leverages VillageMD’s deep expertise in value-based care to support and accelerate the transition to more risk-based care and Summit Health-CityMD’s longstanding and deep expertise delivering multispecialty, connected care. It also enhances WBA’s robust portfolio of leading, integrated healthcare offerings across the care continuum.
The Sheppard Mullin deal is led by Healthcare Industry Team Leader Eric Klein and includes Jeralin Cardoso, William Ziegelbauer, John Carroll, Phil Kim, Frank Dworak, Dmitriy Chelnitsky, Erica Kraus, Sara Shanti, Amy Dilcher, Lidore DeRose, Carter Gage, Christopher Rundell, Mackenzie Wortley, Cynthia Suarez and Anahita Anvari.
Click here to read VillageMD’s press release.