HealthLeaders Media October 19, 2023
The nation’s three largest pharmacy chains have announced plans to close nearly 1,500 underperforming stores.
KEY TAKEAWAYS
– CVS had planned a major expansion in the primary care market in 2024 following its $10.6 billion acquisition in May of Oak Street Health.
– Walgreens had a similar strategy with the creation of Walgreens Health and a $5 billion majority stake in VillageMD, acquired in October 2022.
– Debt-laden Rite Aid filed for bankruptcy this week and warned investors that it may not be able to continue operations.
It wasn’t long ago that the expansion into primary care by the nation’s leading retail pharmacy chains was seen as a threat to traditional providers.
However, a spate of financial woes, leadership shuffles,...
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