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☆ Amazon, CVS, and Walgreens went all in on primary care. Their bets are bleeding money.
▼ + stars: | 2024-03-06 | by ( ) www.businessinsider.com time to read: +8 min

In the past several years, Amazon, CVS Health, and Walgreens each spent billions to own primary-care companies. CVS bought Oak Street Health. Here's how the bets that Amazon, CVS, and Walgreens made are playing out. CVS is building more Oak Street clinics despite lossesAn Oak Street Health location in Elgin, Illinois during its grand opening. CVS is hoping to help Oak Street clinics get profitable quicker by driving more patients their way.

Persons: Andy Jassy, Thos Robinson, It's, JP Morgan, Berkshire Hathaway, Business Insider's Eugene Kim, Kim, they've, it's, VillageMD hasn't, Jefferies, Brian Tanquilut, Tanquilut, Lydia Ramsey, Mike Pykosz, Pykosz, Aetna, Michael Cherny Organizations: CVS Health, Walgreens, Amazon, CVS, Oak Street Health, Business, Aetna, Medical, Washington Post, Summit Health, Oak, Health Locations: Oak, VillageMD, Haven, Florida, Elgin , Illinois

☆ Walgreens is closing all VillageMD primary-care clinics in Florida as the pharmacy giant slashes costs
▼ + stars: | 2024-02-21 | by ( Rebecca Torrence | Blake Dodge | ) www.businessinsider.com time to read: +5 min

Read previewWalgreens-backed primary care company VillageMD is closing all its medical clinics in Florida, one of its largest markets. VillageMD confirmed the closures in an email to Business Insider on Wednesday. The closures are part of Walgreens' strategy to slash spending by $1 billion or more as the pharmacy giant's healthcare business struggles with losses. All of the VillageMD clinics in Florida are attached to Walgreens stores, according to Jefferies' January report. At the time of the acquisition, Walgreens had planned to open 1,000 VillageMD clinics located adjacent to its pharmacies by 2027.

Persons: —, VillageMD, Jefferies, Tim Wentworth, Brian Tanquilut, Jack Slevin, Tanquilut, Wentworth, Roz Brewer, John Driscoll, Mary Langowski, Driscoll Organizations: Service, Business, Walgreens, Jefferies, CVS Health, Summit, Solera, Shields Health Solutions, Pearl Health Locations: Florida, Texas, Arizona, VillageMD, Houston, Atlanta, Phoenix, Shields

☆ Walgreens is following Mark Cuban's blueprint as it embarks on a big strategy shift for prescription drugs
▼ + stars: | 2024-01-05 | by ( ) www.businessinsider.com time to read: +5 min

Pharmacies are changing how they get paid, and Walgreens wants a piece of the action. It's a departure from the traditional, complicated way drugs are paid for, and proponents say it could make drug pricing more transparent and predictable. It's not a given patients will pay less for drugs at the pharmacy counter under this kind of model. These companies are taking cues from Mark Cuban's Cost Plus Drugs, which is starting to gain traction in the market. The big question is whether Walgreens can compete with CVS and other pharmacies in delivering those extra pharmacy and healthcare services.

Persons: Tim Wentworth, Mark, Wentworth, Borja, Hojas, they're, Caremark, Brian Tanquilut, Tanquilut, CVS, Cigna, Mark Cuban's, It's, Rosalind Brewer Organizations: Walgreens, Business, CVS Health, Getty, CVS, Jefferies, Health Locations: California

REUTERS/Mike Blake/File Photo/File PhotoJune 14 (Reuters) - Health insurer stocks dropped sharply on Wednesday after UnitedHealth Group (UNH.N) said costs were on the rise for the largest U.S. healthcare provider by market value due to an increase in surgeries among older adults. Shares of industry bellwether UnitedHealth fell 7.3% to $455.11, wiping out roughly $42 billion from the company's market capitalization in the current trading session. Meanwhile, stocks of medical device makers and hospital operators rose, as increased frequency of surgeries mean more revenue for them. The company highlighted strong demand for hip and knee procedures at outpatient centers, as well as for home health services and behavioral services. Elevance Health (ELV.N), CVS Health Corp (CVS.N), Centene Corp (CNC.N) and Cigna Group (CI.N) fell between 6% and 7.5%.

Persons: Mike Blake, bellwether, UnitedHealth, Jefferies, Brian Tanquilut, Zimmer Biomet, Leroy Leo, Bhanvi, Manas Mishra, Shinjini Organizations: REUTERS, UnitedHealth, Medicare, Humana Inc, Reuters Graphics, Elevance, CVS Health Corp, Centene Corp, Cigna, Elevance Health Inc, CVS, Healthcare, Tenet Healthcare, Stryker, Thomson Locations: Santa Ana , California, U.S, Bengaluru

☆ UnitedHealth offers over $3 bln for home health firm Amedisys
▼ + stars: | 2023-06-05 | by ( Leroy Leo | ) www.reuters.com time to read: +2 min

June 5 (Reuters) - UnitedHealth Group (UNH.N) on Monday made a surprise $3.26 billion all-cash offer to acquire Amedisys Inc (AMED.O), pitting itself against another healthcare company set to buy the home health and hospice care firm. UnitedHealth, through its Optum unit, offered to pay $100 per share in cash, just a month after Amedisys agreed to be bought by Option Care Health Inc (OPCH.O) for $97.38 per share in an all-stock deal. If Optum's offer is accepted by Amedisys, the deal will expand UnitedHealth's presence in home healthcare that it bolstered this year through a $5.4 billion deal to buy Amedisys' rival, LHC Group. Several analysts raised concerns that a UnitedHealth deal would likely face scrutiny from the Federal Trade Commission, given UnitedHealth's home health presence. Amedisys' board has not yet determined whether Optum's offer is superior to Option Health's and is currently in exploratory discussions with the UnitedHealth unit.

Persons: Amedisys, Jefferies, Brian Tanquilut, Oppenheimer, Michael Wiederhorn, Leroy Leo, Shounak Dasgupta, Shinjini Organizations: UnitedHealth, Amedisys Inc, Care Health Inc, LHC, Federal Trade Commission, FTC, Care, Thomson Locations: Bengaluru

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