Walgreens raised the long-term outlook for its U.S. healthcare segment along with its first quarter financials on Thursday to reflect its recent acquisition of medical group Summit Health, reports Healthcare Dive.
Walgreens expects the segment to bring in between $14.5 billion and $16 billion in sales in 2025, up from the previous guidance of between $11 billion and $12 billion for that year.
Walgreens is working to expand the scope of its business beyond pharmacies to more consumer-centric healthcare, and has acquired a number of companies to help it reach that goal. Its U.S healthcare division is now comprised of VillageMD, Summit, specialty pharmacy company Shields Health Solutions and at-home care provider CareCentrix, along with other health ventures.
The Summit acquisition accelerated the U.S. healthcare division’s path to profitability, now expected by the end of 2023. But bringing Summit onboard is already boosting Walgreens’ financials.
Walgreens today raised its full-year revenue guidance to $133.5 billion to $137.5 billion to account for the Summit acquisition and better-than-expected sales in the first quarter. Read more.
