(Bloomberg) -- Walmart Inc. is exploring buying a majority stake in ChenMed, a closely held operator of primary care clinics for seniors, according to people familiar with the matter. Most Read from BloombergEverything Apple Plans to Show on Sept. 12: iPhone 15, Watches, AirPodsUS Probes Made-in-China Chip as Tensions Flare Over TechnologyBoss of Failed Crypto Exchange Gets 11,000-Year SentenceHong Kong to Ease Shutdown After Record Rain Overwhelms CityCalifornia Shows an Electric-Car Uprising H
The companies are in talks for a deal that would value ChenMed at several billion dollars, the people said, asking not to be identified because the matter is private. A deal could still be weeks away, the people said.
A Walmart spokesperson declined to comment while a representative for ChenMed didn’t immediately respond to requests for comment. Amazon.com Inc. closed a $3.5 billion purchase this year of primary-care concierge provider One Medical, while CVS Health Corp. bought Oak Street Health for $10.6 billion. VillageMD, the primary-care provider controlled by Walgreens Boots Alliance Inc., closed an $8.9 billion deal for Summit Health-CityMD in January.Buying ChenMed would represent Walmart’s biggest foray yet into health care. In 2021, it acquired telehealth provider MeMD and started offering low-cost insulin.
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