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Walgreens (WBA) Expands Primary Care Research With New Pact
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Walgreens Boots Alliance, Inc. (WBA - Free Report) recently announced that its division Walgreens entered into a partnership with health technology firm Pearl Health to advance value-based care delivery.
Following the news, shares of Walgreens Boots Alliance rose 1.4% at the closing session on Sep 12, 2023.
Walgreens has established itself as a major partner of choice in rethinking local, individualized care thanks to its significant investments in home-based care through CareCentrix and health system-owned pharmacy solutions through Shields Health Solutions.
More on Collaboration
Pearl Health provides technology and insight solutions to enable clinical teams to offer the comprehensive, individualized care required for value-based, quality-focused care. Complementary services from Walgreens will include filling prescriptions, monitoring medication compliance, immunizations, closing care gaps and diagnostic tests. Walgreens will also partner with medical professionals to ease the transition for people leaving the hospital and going home.
The most prominent example of Walgreens' sustained commitment to value-based care is the company's majority investment in VillageMD, a market leader in primary, multispecialty, and urgent care. Walgreens will be able to reach more patients and regions and will be able to provide a broader range of solutions to clinicians and health systems thanks to a technology-enabled relationship with Pearl Health.
Strategic Implications
Walgreens is dedicated to being the go-to partner for healthcare organizations and providers who want to quickly and successfully transition to value-based care and enhance results in their communities. Through its collaboration with Pearl Health, the company can reach more communities more quickly and provide them with comprehensive, cost-effective care that enhances long-term health outcomes and promotes healthier communities.
Pearl Health's value-based care model enabled by technology is well aligned with Walgreens's healthcare services, especially in the most disadvantaged communities. To offer providers an improved solution and eventually provide patients with high-quality services while effectively managing their care, the companies will work together with an emphasis on proactive, coordinated care.
Industry Prospects
Per a report by GlobeNewsWire, the Value-Based Healthcare Services Market Size is valued at $6.07 billion in 2022 and is predicted to reach $32.69 billion by the year 2031 at a CAGR of 20.79%.
Following the advent of digital technology, there have been several swift developments in healthcare due to the increasing investment by private and governmental organizations. This growth of the value-based healthcare services market results from these developments. Furthermore, market participants have more lucrative potential as chronic diseases like diabetes and cancer become more common in emerging nations.
Recent Developments
In August 2023, Walgreens and VillageMD recently announced the opening the first Village Medical at Walgreens primary care practice in the Chicago area. The addition expands other coordinated primary care practice locations currently open across the country, such as Arizona, Colorado, Florida, Texas, Kentucky, Indiana, Massachusetts, Nevada, New Hampshire, Georgia and Rhode Island.
Image Source: Zacks Investment Research
In June 2023, Walgreens and the California-based biotech company Freenome announced a multi-year partnership to advance the clinical studies of the latter’s blood-based tests for the early detection of cancer. WBA will leverage its national footprint, patient insights, compliant recruitment technology and local infrastructure to engage diverse patient populations in Freenome’s multi-cancer research program.
Price Performance
In the past year, WBA shares have declined 37.5% compared with the industry’s fall of 32.6%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Walgreens (WBA) Expands Primary Care Research With New Pact
Walgreens Boots Alliance, Inc. (WBA - Free Report) recently announced that its division Walgreens entered into a partnership with health technology firm Pearl Health to advance value-based care delivery.
Following the news, shares of Walgreens Boots Alliance rose 1.4% at the closing session on Sep 12, 2023.
Walgreens has established itself as a major partner of choice in rethinking local, individualized care thanks to its significant investments in home-based care through CareCentrix and health system-owned pharmacy solutions through Shields Health Solutions.
More on Collaboration
Pearl Health provides technology and insight solutions to enable clinical teams to offer the comprehensive, individualized care required for value-based, quality-focused care. Complementary services from Walgreens will include filling prescriptions, monitoring medication compliance, immunizations, closing care gaps and diagnostic tests. Walgreens will also partner with medical professionals to ease the transition for people leaving the hospital and going home.
The most prominent example of Walgreens' sustained commitment to value-based care is the company's majority investment in VillageMD, a market leader in primary, multispecialty, and urgent care. Walgreens will be able to reach more patients and regions and will be able to provide a broader range of solutions to clinicians and health systems thanks to a technology-enabled relationship with Pearl Health.
Strategic Implications
Walgreens is dedicated to being the go-to partner for healthcare organizations and providers who want to quickly and successfully transition to value-based care and enhance results in their communities. Through its collaboration with Pearl Health, the company can reach more communities more quickly and provide them with comprehensive, cost-effective care that enhances long-term health outcomes and promotes healthier communities.
Pearl Health's value-based care model enabled by technology is well aligned with Walgreens's healthcare services, especially in the most disadvantaged communities. To offer providers an improved solution and eventually provide patients with high-quality services while effectively managing their care, the companies will work together with an emphasis on proactive, coordinated care.
Industry Prospects
Per a report by GlobeNewsWire, the Value-Based Healthcare Services Market Size is valued at $6.07 billion in 2022 and is predicted to reach $32.69 billion by the year 2031 at a CAGR of 20.79%.
Following the advent of digital technology, there have been several swift developments in healthcare due to the increasing investment by private and governmental organizations. This growth of the value-based healthcare services market results from these developments. Furthermore, market participants have more lucrative potential as chronic diseases like diabetes and cancer become more common in emerging nations.
Recent Developments
In August 2023, Walgreens and VillageMD recently announced the opening the first Village Medical at Walgreens primary care practice in the Chicago area. The addition expands other coordinated primary care practice locations currently open across the country, such as Arizona, Colorado, Florida, Texas, Kentucky, Indiana, Massachusetts, Nevada, New Hampshire, Georgia and Rhode Island.
In June 2023, Walgreens and the California-based biotech company Freenome announced a multi-year partnership to advance the clinical studies of the latter’s blood-based tests for the early detection of cancer. WBA will leverage its national footprint, patient insights, compliant recruitment technology and local infrastructure to engage diverse patient populations in Freenome’s multi-cancer research program.
Price Performance
In the past year, WBA shares have declined 37.5% compared with the industry’s fall of 32.6%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.