@ Village Medical – Walgreens

VillageMD adds Illinois to list of states to leave.

Multiple news sources reported that the company will close all six Illinois stores in the Chicago area on April 19th. This comes after the company announced on February 22 that it plans to close all stores in Florida, one of its largest markets. March 15th. At the beginning of the year, the company closed all 12 of its dispensaries in Indiana.

Chicago-based VillageMD operates retail medical clinics through its Village Health subsidiary. The company is majority owned by Walgreens Boots Alliance. Most clinics are located within or adjacent to Walgreens stores. His website for Village Health lists his 680 practices in 26 markets across 13 states.

In January 2023, VillageMD acquired physician practice group Summit Health-CityMD for $8.9 billion, making it one of the nation’s largest independent provider groups.

Last fall, after a net loss of $3.1 billion for the fiscal year, the company announced plans to close about 60 clinics and exit five markets. The company reportedly said it expects to save about $1 billion from the closure and other cost reductions. Becker’s Hospital CFO Report.

Walgreens Boots announced in January that its U.S. healthcare unit had an unadjusted operating loss of $1.9 billion in the first quarter on revenue of $436 million. Adjusted operating loss was $96 million, down from $152 million in the prior year.