Amazon and CVS have been trying their hand at the healthcare industry for years, but not without fail — the two healthcare disruptors recently announced that they would be shuttering some of their healthcare initiatives.
Here are three initiatives being shuttered, as reported by Becker's since August 25:
- CVS Health told Becker's it was wrapping up its clinical trials unit that launched two years ago to focus on its core business and "long-term strategic priorities." The company aims to wind down the clinical trials unit in phases, with a full exit expected by Dec. 31, 2024.
- On April 26, Amazon said it will be shutting down Halo, its health and fitness device line, starting July 31. Come Aug. 1, all Amazon Halo devices and the Amazon Halo app will no longer function, according to the company.
- Amazon decided to cease operations of Amazon Care on Dec. 31, 2022. Neil Lindsay, senior vice president of Amazon Health Services, said this was due to service not living up to its expectations for its enterprise customers, which included Whole Foods, Hilton, Silicon Labs and Precor.