VillageMD to close Florida clinics: reports

@ Village Medical - Walgreens

VillageMD will close its Florida clinics and exit that market, according to multiple news reports.

Business Insider reported the news, citing a report by investment firm Jefferies. Representatives from VillageMD and owner Walgreens Boots Alliance Inc. also have issued public statements on the decision, according to news reports.

The Village Medical website included at least 50 Florida locations, some with the description, “Permanently Closed,” as of Feb. 22. News reports stated the company would close its Florida locations by March 15.

The company has more than 680 practices, “including inside many Walgreens locations,” in Nevada, Arizona, New Mexico, Colorado, Texas, Illinois, Indiana, Michigan, Kentucky, New Hampshire, Massachusetts, New Jersey, and Georgia, according to the Village Medical website.

In January, Walgreens Boots Alliance announced its U.S. health care segment had first-quarter sales of $1.9 billion, reflecting VillageMD’s acquisition of Summit Health, “and growth in all businesses compared to the year-ago quarter.” VillageMD grew by 14% of a pro forma basis; the segment’s overall operating loss was $436 million, flat in year-to-year comparison, and the adjusted operating loss was $96 million, compared to $152 million in the first quarter a year before.

For several years, Walgreens has touted its plans with VillageMD to have its pharmacies and primary care clinics under one roof, with at least 200 planned by the end of 2022, 600 practices by 2025, with at least 50% in medically underserved areas.