Forbes January 7, 2024
Walgreens chief executive’s disclosure last week that VillageMD’s doctor-staffed clinic expansion plan needed to go “on a diet” highlights certain risks in the race by retailers to open primary care centers across the country.
In Walgreens case, the drugstore giant has for several years now been an investor and partner with VillageMD, a Chicago-based startup that has received several billion dollars from Walgreens. Walgreens, which now owns about half of VillageMD, in October announced plans to close 60 underperforming VillageMD locations and exit certain locations to focus on “increased density” in the company’s highest opportunity markets.
In an interview last week, Walgreens chief executive Tim Wentworth said Walgreens and partner VillageMD have slowed the number of openings of doctor-staffed clinics...
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