$5.2 billion

Walgreen invested in primary-care provider VillageMD

Walgreens Boots Alliance Inc. invested $5.2 billion in primary-care provider VillageMD, doubling its stake in the company to 63 per cent.

The deal will increase the number of primary-care practices located at Walgreens chain stores to more than 600 in thirty US markets, the companies said in a statement. That number will rise to 1,000 by 2027, with more than half the practices located in underserved communities, the companies said.

Walgreens is raising its profile in value-based primary care, a quickly growing segment of the health-care market worth about $1 trillion.