M&A Deal Summary

VillageMD Acquires Summit Medical Group

On January 30, 2020, VillageMD acquired healthcare services company Summit Medical Group from CityMD

Acquisition Highlights
  • This is VillageMD’s 3rd transaction in the Healthcare Services sector.
  • This is VillageMD’s 3rd transaction in the United States.
  • This is VillageMD’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2020-01-30
Target Summit Medical Group
Sector Healthcare Services
Buyer(s) VillageMD
Sellers(s) CityMD
Deal Type Divestiture

Target

Summit Medical Group

Berkeley Heights, New Jersey, United States
website
Summit Medical Group is an independent multispecialty medical practice with 80+ locations and 900+ providers across specialties. Summit Medical Group was founded in 1919 and is based in Berkeley Heights, New Jersey.

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Buyer(S) 1

Buyer

VillageMD

Chicago, Illinois, United States

website


Category Company
Founded 2013
Sector Healthcare Services
DESCRIPTION

VillageMD is a national primary care provider supporting physicians moving toward a primary care-led, high-value clinical model. VillageMD delivers data analytics, a physician practice-based care coordination model, leading technology, and on-the-ground support resources to make improvements at the point of care, resulting in high quality clinical outcomes across all markets and all patient populations. VillageMD also provides access to value-based reimbursement contracts that reward physicians for delivering high quality, cost effective care. VillageMD works with physician groups, independent practice associations, and health systems to improve quality, deliver a first-rate patient experience, and lower total medical costs in the communities they serve. VillageMD was founded in 2013 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 12
Sector (Healthcare Services) 3 of 11
Type (Divestiture) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 3 of 12
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-21 Village Family Practice

United States

Village Family Practice provides high-quality, value-based healthcare to more patients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Village Medical

Chicago, Illinois, United States

Village Medical offers comprehensive primary care across a broad range of physician services. Village Medical is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

CityMD

New York, New York, United States

website


Category Company
Founded 2010
Sector Healthcare Services
DESCRIPTION

CityMD is an urgent care provider founded by a passionate group of emergency medicine physicians, CityMD's mission is to serve its communities by providing quality medical care through convenient access and an exceptional experience. The company's unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER. CityMD was founded in 2010 and is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Summit Medical Group

Berkeley Heights, New Jersey, United States

Summit Medical Group is an independent multispecialty medical practice with 80+ locations and 900+ providers across specialties. Summit Medical Group was founded in 1919 and is based in Berkeley Heights, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Urgent Care Now

Ocean County, New Jersey, United States

Urgent Care Now is an independent medical walk-in clinic dedicated to providing the highest level of quality care to every patient we see. Urgent Care Now provides fast, effective treatment for injuries and illnesses with compassion and consideration. Urgent Care Now was established in 2005 and is based in Ocean County, New Jersey.

Buy -