HealthLeaders Media October 13, 2023
The company released its fourth quarter earnings and financial outlook for 2024.
KEY TAKEAWAYS
– On the heels of announcing Tim Wentworth as the new CEO, Walgreens said it is aiming to reduce at least $1 billion in costs, including shuttering 60 VillageMD clinics in 2024.
– Despite showing revenue growth for the fourth quarter, VillageMD underperformed and was part of the reason the U.S. Healthcare division reported an adjusted operating loss of $83 million.
Walgreens plans to shut down 60 VillageMD clinics and exit five markets next year in an attempt to cut at least $1 billion in costs as it pivots in strategy with a new CEO.
Two days after naming Tim Wentworth CEO, the drugstore chain released...
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