Who would have thought Dollar General Corporation (NYSE: DG) would some day hire a Chief Medical Officer? And yet, the American chain of variety stores hired Dr Albert Wu as a CMO and Vice President on Wednesday.
Dollar General wants to become a health destination
Dollar General is on a strategic journey to establish itself as a health destination, the company said in a press release on Wednesday.
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“At Dollar General, we are always looking for new ways to serve, and our customers have told us that they would like to see increased access to affordable healthcare products and services in their communities. Our goal is to build and enhance affordable healthcare offerings for our customers, especially in the rural communities we serve,” said CEO Todd Vasos.
As part of its expansion into healthcare, Dollar General stores in the U.S. will now have a range of related products on the shelves. These include dental supplies, health aids, cold and cough medication, nutritional supplements, and feminine hygiene products.
DG to help the underserved rural communities
Dollar General recognises that rural communities across the United States are often underserved by the existing healthcare ecosystem, leaving them dependent on retailers for access to healthcare products.
With a broad network comprising more than 17,000 stores, DG now wishes to make it convenient and affordable for these communities to find the required healthcare products and services in their vicinity. Nearly 75% of Americans are at a 15-minute drive from one of Dollar General’s locations.
Dr Wu has recently worked for McKinsey & Company on healthcare-related projects. At Dollar General, he has been entrusted with a crucial role of “establishing and strengthening relationships with current and prospective healthcare product and service providers to build a comprehensive network of affordable services for DG customers,” the press release disclosed.
Shares of the company were about 1% up on Wednesday morning.
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