Walmart is reportedly in discussions to acquire a majority stake in ChenMed, a chain of primary care clinics, as per a Bloomberg report. Here are the key details:
- Valuation: ChenMed is estimated to be worth several billion dollars. While terms of the potential deal have not been finalized, there’s a possibility that another buyer might step in.
- ChenMed’s Focus: The primary care clinic chain is known for delivering value-based care, particularly to Medicare beneficiaries with multiple chronic conditions.
- Expansion: Should the deal come to fruition, Walmart would gain ownership of ChenMed’s over 100 health centers spread across 15 states.
- Walmart’s Healthcare Foray: This acquisition would mark Walmart’s most significant venture into the healthcare sector. In 2021, the retail giant acquired MeMD, a telehealth service provider.
The potential acquisition underscores Walmart’s growing interest in expanding its footprint in the healthcare domain.