WilmerHale Represents Kinnevik in Transformational Transaction with VillageMD and Walgreens Boots Alliance

WilmerHale Represents Kinnevik in Transformational Transaction with VillageMD and Walgreens Boots Alliance

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Kinnevik, a leading European growth investor, announced its support for a transaction in which Walgreens Boots Alliance (WBA) will invest an additional $5.2 billion in Kinnevik portfolio company VillageMD. As part of this transformational transaction, Kinnevik has committed to sell part of its stake in VillageMD for a minimum of $340 million. Kinnevik expects to retain an approximate 4% stake in VillageMD, valued at approximately $535 million depending on the final size of Kinnevik’s sale. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the fourth quarter of 2021.

VillageMD is a leading, national provider of value-based primary care services. With WBA’s investment, VillageMD can accelerate its strategy of providing comprehensive, coordinated care through its value-based primary care model. This strategy includes expanding into broader service lines and allowing higher engagement with individuals managing chronic conditions or who need an additional level of care.

The WilmerHale team representing Kinnevik included Adam Freiman, Bill Caporizzo and Kate Leonard. WilmerHale has represented Kinnevik since its initial investment in VillageMD in 2019.

 

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