As the retail giant, Walmart has been exploring the possibility of selling its closed health centers, according to a report from Fortune. The company has engaged in talks with potential buyers, including health insurance firms like Humana, in an effort to recoup the significant investment it made in these clinics. The decision to sell comes after Walmart announced the closure of all 51 of its health care clinics due to financial challenges stemming from increasing operating costs and a difficult reimbursement environment.
Walmart had previously announced plans to open 22 new health care locations by 2024. However, the closure of its existing clinics marked a shift in its health services strategy. The company had initially invested in expanding its health care offerings by opening Walmart Health centers, which aimed to provide customers with primary care, labs, X-rays, and counseling at a transparent price regardless of insurance status.
In addition to closing its physical health care clinics, Walmart also ceased operations of its Walmart Health Virtual Care unit, citing a decrease in virtual care visits following the peak of the Covid-19 pandemic. Despite these closures, Walmart continues to operate its 4,600 pharmacies and 3,000 vision centers.
Walmart’s stock reached an all-time high in June after JPMorgan upgraded its rating, praising the company’s strong balance of defense and offense amid current economic challenges. The retailer remains a major player in the industry and is adapting its health care strategy to reflect changing consumer needs and market conditions.
