Motley Fool October 31, 2019
The drugstore chain just said something that should concern rival players looking to diversify their services.
The idea seemed reasonable enough. Consumers already visit Walgreens drugstores seeking health-related solutions. Adding health clinics to its stores’ footprints is an intuitive way to drive more revenue by drawing more people to its locations.
Walgreens Boots Alliance (NASDAQ:WBA), however, appears to have learned that starting a health clinic business from scratch is no guarantee of profits. On Monday, the company announced it would be shuttering about 150 of its wholly owned health clinics. The company’s in-store clinics operated by third parties will continue to operate, and any new ones established in the future will also be owned and operated separately from Walgreens. COO...
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