Walmart Inc. (NYSE: WMT) is reportedly contemplating the acquisition of a controlling interest in ChenMed, a provider of primary care clinics tailored for senior citizens, according to Bloomberg.
The potential deal could lead to a whopping valuation of ChenMed at several billion dollars. The transaction would be one of Walmart's most significant investments in the healthcare sector.
The companies are in the initial phase of discussions, and terms have yet to be finalized, Bloomberg reported, citing insiders.
Focus On Affordable Care
Walmart's pursuit of ChenMed, an affordable care provider to underserved aging patients, is a strategic leap into senior healthcare, seizing a slice of the aging population's needs at affordable costs.
ChenMed, founded by physician Jen-Ling James Chen and ...