VillageMD’s acquisition of Starling Physicians has given it control of 30 medical centers in Connecticut, bringing the total count under its majority owner, Walgreens, to more than 700.

A multispecialty physicians group, Starling offers primary care, as well as cardiology, ophthalmology, endocrinology, nephrology, and geriatric services.

The acquisition follows VillageMD’s acquisition of specialty and urgent care provider Summit Health-CityMD in November for approximately $8.9 billion, creating one of the largest independent provider groups in the U.S., valued between $5 billion and $10 billion and employing 20,000 people nationwide at more than 680 locations in 26 markets.

“This is a natural extension of our growth in the Northeast, including our recent acquisition of Summit Health-CityMD,” said Tim Barry, CEO and chair of VillageMD, in a statement.

Walgreens, which bought a stake in VillageMD in 2019, doubled its ownership from 30% to 63% in 2021 with a $5.2 billion investment. Walgreens is planning to have 1,000 primary care clinics under it by 2027.

The VillageMD-Starling acquisition is also subject to a state investigation for possible certificate-of-need requirement, with the Connecticut Office of Health Strategy saying that neither company filed a merger application with it, according to The Hartford Business Journal, which ranked it among Connecticut's high-profile deals in the last few years.

The deal was completed on March 3. Financial details were not disclosed.

Business Affairs Homepage