Latham & Watkins acted for VillageMD on US$8.9 Billion acquisition of Summit Health - CityMD

Latham & Watkins acted for VillageMD on US$8.9 Billion acquisition of Summit Health - CityMD

VillageMD entered into a definitive agreement to acquire the business of Summit Health-CityMD- a leading supplier of primary, specialized and urgent care

Around $8.9 billion has been invested in the deal by companies like Walgreens Boots Alliance, Inc., and a subsidiary of Cigna Corporation called Evernorth.

The transaction is subject to a number of standard closing conditions that must be met before the transaction may be finalized, including the expiration or termination of any waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. It is scheduled to be completed in the first quarter of calendar 2023.

New York partners Nathan Ajiashvili, John Giouroukakis, and Dennis Lamont and Boston partner Dan Hoffman are leading the Latham & Watkins LLP corporate team. It represents VillageMD in the purchase, equity and debt financings, and other corporate activities in connection with the transaction. Associates Erik Thompson, S. Elizabeth Kim, Alex Bernstein, Michael Wright, Kaj Nielsen, Matt DeSilva and Jihoo Kim also joined them.

Similarly, New York partner Jocelyn Noll and associate Shruti Hazra advised on tax matters, while Washington, D.C. partners David Della Rocca and Nikhil Kumar gave assistance on benefits and compensation. Moreover, Stuart Kurlander and Nicole Liffrig Molife gave counsel on healthcare regulatory matters and Boston partner Sarah Gagan advised on intellectual property.