Healthcare Finance News February 23, 2024
The closures are part of a $1 billion cost-saving strategy the company is implementing on the heels of weak Q4 numbers.
In a bid to increase profitability, Walgreens is implementing a cost-saving strategy it hopes will save $1 billion, and one of the main components of that strategy is the closing of roughly 60 VillageMD clinics that the company has deemed underperforming.
The company will also be exiting five markets on the heels of weaker-than-anticipated earnings in the fourth quarter.
According to Business Insider, VillageMD, which operates clinics in Florida, has already closed 14 of its 52 locations. The rest will shutter their doors by March 15, resulting in VillageMD leaving the Florida market altogether.
“To continue to scale our...
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