Tivity Well being board chairman, Anthony Sanfilippo, highlighted Ashworth’s expertise adjusting to a altering well being care house, whereas additionally competing in an intense retail enviornment. That have is critical to develop Tivity’s income and broaden its buyer base, Sanfilippo mentioned in a firm assertion.
The corporate, based mostly within the Nashville, Tenn., space, owns and operates weight reduction and meals supply applications just like the South Seaside Food plan and Nutrisystem. It is one in all Nashville’s largest publicly traded well being care firms, reporting $272.8 million in income in 2019, up 78 p.c from the prior 12 months.
Throughout Ashworth’s tenure as Walgreens president, the corporate struggled to cope with falling pharmacy reimbursement charges and retail competitors from the likes of Amazon. Walgreens’ greater than 9,000 brick-and-mortar areas left it weak to on-line sellers, whereas plans to supply more cosmetic products didn’t reverse falling same-store gross sales.
Walgreens’ earnings have been down greater than 20 p.c within the firm’s final fiscal 12 months, fueling a Reuters report that drug wholesaler AmerisourceBergen offered to purchase the corporate’s wholesale drug enterprise. It was the second reported leverage buyout try after private-equity agency, KKR, floated a similar idea late final 12 months.
A Walgreens spokesman mentioned Alex Gourlay, present co-chief working officer, will take over the corporate’s enterprise operations and duties. Walgreens had no additional remark.
Ashworth is succeeding Tivity’s interim CEO Bob Greczyn, who held the function since February after Donato J. Tramuto departed earlier this 12 months.
Tivity Well being share costs have been up 4.9 p.c to $10.16 throughout intraday buying and selling.