Walmart has held talks to sell its shuttered medical clinics, Fortune reports
5:01 pm Tuesday, July 02nd, 2024
(Reuters) -Walmart has held talks with potential buyers to sell its already shuttered medical clinics, Fortune reported on Tuesday, citing multiple sources familiar with the matter.
In April, Walmart decided to close all 51 of its health clinics and shut its virtual healthcare operations, saying it could not see them as a sustainable business model to continue.
The report added that some of the talks have involved health insurance companies, including Fortune 50 firm Humana.
Although it is unclear whether any of the talks are ongoing, Walmart has made it clear through the process that it is attempting to recoup some of its massive investment in the clinics through a sale or other takeover arrangement, the report added.
Walmart declined to comment while Humana did not immediately respond to a Reuters request for comment.
Last week, Walmart sold MeMD, its virtual care subsidiary, to healthcare technology startup Fabric for an undisclosed value.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Alan Barona and Krishna Chandra Eluri)
