Village Practice Management Company LLC’s acquisition of local primary care groups Associates in Family Medicine and Rocky Mountain Family Practice is just the beginning of the Chicago-based clinic chain’s expansion into the Boulder Valley and northern Colorado.
The company will now turn its attention to integrating the two new practices and continuing its expansion by opening co-located clinics in Walgreens pharmacies.
VillageMD operates medical clinics in hundreds of Walgreens Boots Alliance Inc. (Nasdaq: WBA) stores across the country.
“We have profiled the top 100 metropolitan statistical areas in the United States and have a well-defined plan of the markets we will enter. The Northern Colorado and Denver markets are among the company’s top growth targets,” VillageMD Co-Founder and Chief Strategy Officer Paul Martino told BizWest. “Given the footprint that (Walgreens) has in the Colorado market in general, we also concluded that this would be a good market for our co-located clinics.”
Collocated clinics are typically around 3,300 square feet.
“We completely walled it in and built a fully functional primary care clinic” with nine exam rooms, behavioral and telehealth capabilities and a lab, Martino said.
Existing employees from newly acquired clinics can be used to help staff co-located operations, and “if they can’t, we’ll begin the hiring process,” he said.
Depending on market conditions and the status of leases at acquired practices, VillageMD may choose to retain them at their current location or merge them with co-located clinics.
At Associates in Family Medicine, which operates in Fort Collins, Loveland and Windsor, and Rocky Mountain Family Practice in Longmont, a VillageMD “integration team” will spend the next few months “in the field, learning more about all practices” , said Martino, adding that “these are successful businesses and the goal is to enable them to remain successful businesses” with additional resources from VillageMD.
“Teams on the pitch are staying there and we’re optimizing performance,” he said.
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