Walgreens Boots Alliance CEO Roz Brewer recently suggested that company may be expanding into healthcare technology, while CVS Health CEO Karen Lynch said the company is aiming to ultimately touch the "entire spectrum of someone's health journey."
Walgreens considering moving into health tech
In an Oct. 13 earnings call, Ms. Brewersaidthe company plans to move "swiftly to implement our vision of consumer-centric tech-enabled healthcare solutions that improve outcomes and lower costs for patients, providers and payers."
The company is aiming at a health technology acquisition as its next strategic play but said whatever Walgreens chooses to acquire will depend on whether the potential acquisition is achieving its earnings before interest, taxes, depreciation and amortization, according to Mr. Brewer.
CVS' expansion into primary care
At an Oct. 12 event in Boston, CVS Health's CEO Karen Lynchsaidshe wants the company to touch the "entire spectrum of someone's health journey," part of which included CVS' $8 billionacquisitionof Signify Health last month, which brings the company into home-based care.
Ms. Lynch said the company also plans to expand into primary care and expects to announce an acquisition later this year.
CVS is also piloting a new technology allowing patients to tell pharmacies when they intend to pick up their prescriptions.
"Technology is a game-changer in healthcare," said Ms. Lynch. "If we don't stay up on technology, we're never going to get that connected care and that personalized care."
Ms. Lynch also expanded on how CVS intends to compete with Amazon, given the tech giant's recent agreement topurchaseprimary care provider One Medical.
Ms. Lynch said she believes CVS has a head start because it has built years of trust with consumers and it understands the complicated nuances of the healthcare space.
Ms. Lynch added that, in conversations with customers, she's learned the importance of trust.