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.