Issue link: https://beckershealthcare.uberflip.com/i/1492611
26 TRANSACTIONS Walgreens doubles down on primary care: What ASCs need to know By Patsy Newitt V illageMD, a company majority owned by Walgreens Boots Alliance, acquired Dallas Internal Medicine and Geriatrics Specialists just weeks aer finalizing a $8.9 billion acquisition. Here are five things ASCs need to know regarding recent Walgreens- related moves and related trends: 1. VillageMD, in which Walgreens bought a majority stake in 2021 for $5.2 billion, has been expanding its primary care footprint across the U.S. and now has 680 locations in 26 markets. 2. Value-based care provider VillageMD said Dallas Internal Medicine and Geriatrics Specialists' three physician founders and advanced practice provider will stay on board following the acquisition. 3. VillageMD completed its acquisition of physician practice group Summit Health on Jan. 3 in a transaction worth roughly $8.9 billion. e combination of Summit Health-CityMD and VillageMD created one of the largest independent provider groups in the country. 4. Amazon and CVS also are looking to primary care. In July, Amazon agreed to buy primary care company One Medical for $3.9 billion. e acquisition still faces antitrust challenges, though it did clear a recent hurdle in Oregon. 5. In 2022, CVS Health signed a definitive agreement to acquire home health company Signify Health for around $8 billion and has been looking for further footing in the primary care space. Most recently, CVS Health's venture capital arm invested $100 million into Carbon Health, a hybrid healthcare company focused on primary and urgent care. n HCA, Amazon & Walgreens: 3 healthcare deal updates in 2023 By Patsy Newitt H ere are three major healthcare deals that were completed or have moved forward in 2023, all on Jan. 3: 1. New Orleans-based LCMC Health finalized its $150 million purchase of three hospitals from HCA Healthcare after securing approval from the Louisiana Department of Justice. New Orleans-based Tulane Medical Center; Covington, La.-based Lakeview Regional Medical Center; and Metairie, La.-based Tulane Lakeside Hospital are now part of LCMC Health, bringing the nonprofit system's hospitals to a total of nine. 2. VillageMD, which is majority owned by Walgreens Boots Alliance, completed its acquisition of Summit Health-CityMD, adding more than 2,800 providers to its ranks. On Nov. 7, VillageMD said it entered a definitive agreement to acquire Summit Health-CityMD for $8.9 billion with investments from Walgreens Boots Alliance and Evernorth, the health services portfolio of Cigna. 3. Amazon cleared a regulatory hurdle on its path to acquiring One Medical. The Oregon Health Authority approved the proposed acquisition after conducting a regulatory review. One Medical has both virtual and in- person care, including five clinics in Oregon. n Consolidation in the ASC industry: 3 stats to know By Patsy Newitt W hile the ASC industry remains largely fragmented, the industry is slowly consolidating, according to a Jan. 26 report from VMG Health. Here are three stats to know about industry consolidation: 1. Seventy percent of ASCs remain independent as of 2022. 2. The number of ASCs under partnership by a national operator saw an increase of 1,752 to 1,804 ASCs from 2021 to 2022. 3. The five largest ASC companies — United Surgical Partners International, AmSurg, SCA Health, HCA Healthcare and Surgery Partners — saw an increase of around 511 centers since 2011. n Montecito Medical acquires Tampa medical office building with ASC By Claire Wallace M ontecito Medical has acquired a 16,500-square- foot medical office building in Tampa, Fla., that is currently leased to an ASC and the Reproductive Medicine Group of Tampa. This building marks Montecito's second acquisition in the Tampa area for 2022, and its CEO, Chip Conk, says that Montecito is actively pursuing more opportunities in the state, according to a Jan. 4 press release. The Reproductive Medicine Group has been serving patients for almost 40 years, and has several physicians rated as the "Best in America" by U.S. News and World Report. n