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    Michael Hiltzik: How Walgreens, CVS and Rite Aid tried to take over healthcare — and failed

    There was a time, in the misty, rose-hued past, when the three big drugstore chains look poised to take over the American healthcare system. Drug retailer CVS and health insurer Aetna announced a $69-billion merger. Walgreens made a $5.2-billion investment in primary care provider VillageMD and took a $330-million stake in home care provider CareCentrix, giving it control of both firms. Rite ...
    by Michael Hiltzik, Los Angeles Times Oct 25, 2023 5 minutes
    At CVS, executives paint the effort to remake the company into an integrated healthcare provider as very much a work in progress.

    There was a time, in the misty, rose-hued past, when the three big drugstore chains look poised to take over the American healthcare system.

    Drug retailer CVS and health insurer Aetna announced a $69-billion merger. Walgreens made a $5.2-billion investment in primary care provider VillageMD and took a $330-million stake in home care provider CareCentrix, giving it control of both firms. Rite Aid wasn't as aggressive, but still built up its national footprint to 5,000 stores before cutting back to about 2,100.

    The companies talked about evolving into one-stop medical providers so that "patients discharged from the hospital … will be able to stop at a health hub location to access services such as medication evaluations, home monitoring and use of durable medical equipment, as needed" (according to the merger announcement by CVS and Aetna).

    The American Hospital Assn. issued listing CVS and Walgreens among companies that had grabbed market

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