The corporate will do its IPO within the U.S., and it might fetch as a lot as $1 billion and worth the corporate at as a lot as $10 billion, based on Bloomberg.
Shaped in 2003, VillageMD has plans to boost $500 million in an inventory that would come about as of the third quarter, Bloomberg reported, citing unnamed sources.
VillageMD operates its clinics below the model identify Village Medical and kinds partnerships with different companies, based on Bloomberg. The corporate additionally has some areas inside Walgreens shops.
The corporate runs in 12 U.S. markets, and in 2019, it raised $100 million from a Sequence B financing spherical. Swedish investor Kinnevik AB, Oak HC/FT, City Corridor Ventures and Adams Road Companions had been among the many individuals at the moment, Bloomberg reported.
Regardless of the previous 12 months’s unstable market, healthcare and health-tech firms have fared nicely, with the pandemic luring extra investments to that sector. One other main care supplier, Agilon Health, filed this week for an IPO that’s set to boost as a lot as $1.1 billion. And two of the 4 blank-check mergers this week concerned healthcare firms, based on Bloomberg.
Final 12 months noticed Walgreens Boots Alliance accelerating its involvement in digital investments through the pandemic. The well being retailer stated the pandemic’s results on enterprise made it to look to retail restructurings and the way folks would wish to deal with well being wants sooner or later.
In response, the corporate put into place extra supply choices, in addition to a digital order-ahead drive-through mannequin, with extra merchandise obtainable to be picked up that approach. Digital gross sales for the corporate spiked by 22.7 p.c within the third quarter of final 12 months in comparison with the identical quarter in 2019.