Walmart Is Diving Deeper Into Healthcare: What Does That Mean for Pharmacies?

Walmart (NYSE: WMT) is a large, well-funded, low-cost competitor that no company wants to go up against if they can avoid it. For big pharmacy retailers such as Walgreens Boots Alliance (NASDAQ: WBA) and CVS Health (NYSE: CVS), may soon find out what it feels like (even more than they already do). That's because Walmart Health is planning to nearly triple its footprint.

Walmart is a dominant name in retail as its low-priced merchandise draws in many consumers looking to save money, particularly now amid outsized and persistent inflation. The company, which generates more than $600 billion in annual revenue, is always looking for more growth opportunities. One area it has focused on in recent years is healthcare, launching Walmart Health in 2019.

Walmart Health gives consumers a way to access low-priced medical care. This includes primary care, X-rays, dental, and optical services. For example, regardless of insurance, adults can get teeth cleaning for just $25. Currently, there are over 25 Walmart Health locations in Georgia, Arkansas, Illinois, Texas, and Florida. And two years ago, it acquired a telehealth provider, MeMD, which can enable Walmart Health to offer digital and more flexible healthcare solutions.

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Source Fool.com