Healthcare Finance News October 13, 2023
Financial challenges in the coming year include lower volumes of COVID-19 vaccinations and testing, company says.
Walgreens Boots Alliance has plans to cut over $1 billion in 2024 and to shutter 60 healthcare clinics in unprofitable markets.
The company reported fourth quarter operating losses of $450 million, compared to $822 million operating losses during the fourth quarter of 2022.
Net loss in the fourth quarter was $180 million compared to a net loss of $415 million in the year-ago quarter.
WHY THIS MATTERS
The company plans cost reductions of at least $1 billion and lowering capital expenditures by approximately $600 million in 2024, Interim CEO Ginger Graham said Thursday during the earnings call.
Financial challenges in the coming...
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