Boston-based management company Arches Medical Partners has acquired 11 practices previously owned by Walgreens' VillageMD.
Physician-owned Arches Medical now employs 50 physicians and operates eight office locations and three urgent care centers in Rhode Island, according to a March 20 release from the company.
VillageMD, majority owned by Walgreens, operates 680 clinics. In October, Walgreens first announced its plan to cut at least $1 billion in costs and has since announced plans to exit the Illinois, Indiana and Florida markets. In total, it plans to pull VillageMD from five markets and close around 60 clinics in 2024.