Forbes July 1, 2024
Walgreens Boots Alliance is looking to reduce its investment in the doctor-staffed clinic operator VillageMD after billions of dollars in losses and the need to focus on more profitable ventures to turn around the drugstore chain.
Walgreens chief executive officer Tim Wentworth, who took over as the company’s top executive last October, told analysts last week the company would remain an investor and partner, but is working with VillageMD’s management “toward an endpoint.”
VillageMD runs 89 Village Medical at Walgreens clinics attached to drugstores. VillageMD also includes CityMD, a provider of urgent care centers and Summit Health, a multispecialty medical group.
Walgreens held a 53% ownership stake in VillageMD as of last Thursday, but that is on the verge of...
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