(Bloomberg) -- CVS Health Corp. is exiting its core infusion services business and plans to close or sell 29 related regional pharmacies over the coming months, a company spokesperson confirmed Friday.
The company stopped taking new patients seeking antibiotics, drugs supporting muscular health, and intravenous nutrition services on Oct. 8, the spokesperson said. Core infusion services provide patients with medications that are administered intravenously.
The health-care company is conducting a strategic review of its operations as it faces rising costs at its drugstore chain and medical expenses at the Aetna health insurance arm.
CVS announced earlier this month it will eliminate roughly 2,900 jobs to reduce costs, with corporate roles being the main focus of the cuts. The job losses won’t involve front-line workers at the company’s stores, pharmacies or distribution centers.
Reuters earlier reported the news.
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