Table of Contents
DEERFIELD, Ill. — Since becoming chief executive officer of Walgreens Boots Alliance in March 2021, Roz Brewer has put her stamp on the company by sharpening its focus on the things that matter most — health care and retailing.
“We are taking decisive action to unlock value and strengthen the company by simplifying the portfolio,” she said during a recent conference call with financial analysts. “Our strategy is working. We are performing against our plans, and we will be relentless in driving continued progress ahead.”
Central to that drive is the acquisition of health care resources that complement WBA’s core prescription drug business. Over the past year and a half, the company has fortified and diversified its holdings with the addition of Summit Health–CityMD to its VillageMD primary care business, and the decision to acquire CareCentrix, which specializes in home and post-acute care, and Shields Health Solutions, a leader in specialty pharmacy.
“We are accelerating the build-out of our health care growth engine,” Brewer commented. “The addition of Summit Health is transformational. It creates one of the largest integrated provider platforms in the U.S., delivering quality, affordable care for all patient populations regardless of insurance or payer type. This highly strategic transaction expands VillageMD’s addressable market with primary care, multi-specialty and urgent care, and reinforces our approach across the entire care continuum.
“Summit will accelerate the U.S. Healthcare segment to scale and profit. We see meaningful synergy potential over time with integration activities already begun. We have also added our fourth payer partner for the organic business, Horizon Blue Cross Blue Shield of New Jersey, and now have signed five clinical trials contracts.”
The acquisition of CareCentrix brought the added benefit of an inflow of executive talent to Brewer’s management team. John Driscoll, who had been CEO of CareCentrix, is now president of U.S. Healthcare at WBA, where he is working to connect the dots across the continuum of care. Together with Brewer; Rick Gates, Walgreens chief pharmacy officer; and Tracey Brown, president of Walgreens Retail Products and chief customer officer, the executive leadership team is developing synergies to better equip the company to leverage its core operations and reach patients and customers in new ways.
“Our retail pharmacy business provides a solid foundation for our leading health care assets to deliver value across the full care continuum, driving our long-term growth strategy,” Brewer said. “We are able to reach across both digital and physical channels to guide consumers through the complexities in health care. We are building the scale and resources to help health plans and patients improve outcomes and lower costs as only Walgreens can do.
“There are significant opportunities for synergies, allowing us to pursue value-based care and risk arrangements, which will demonstrate the importance of an integrated approach.
“We are focused on expanding our risk business, supporting integrated care models, broadening our pharmacy value proposition and driving operational efficiencies. The combination of our best-in-class health care assets, a physical presence through our pharmacy footprint, our trusted brand and a scaled digital offering creates a platform that is unmatched in the industry.”
