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Walmart Reportedly Building New Health Venture

Walmart is reportedly establishing a new health venture.
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Walmart  (WMT) - Get Walmart Inc. Report is reportedly building a new health venture through Store No. 8, the retailing giant's incubation arm.

The venture will build programs that will enable shoppers to make healthier decisions based on their own data, according to Business Insider, which cited people with direct knowledge of the matter. 

Walmart is looking for a chief executive to helm the venture. Business Insider said a job posting described the role as a “stealth health data analytics initiative."

The venture is said to be in early, exploratory stages.

Walmart, the Bentonville, Ark., retailing giant, did not immediately return a request for comment.

Store No. 8 was formed in 2017 as part of Walmart’s "larger innovation mission to shape the future of retail," according to the group's website.

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The company's shares at last check were up 1.3% to $149.26.

Others have attempted to fix the country's health system's problems.

Earlier this month, Haven, the health-care entity formed three years ago by Amazon  (AMZN) - Get Inc. Report, Berkshire Hathaway undefined and JPMorgan Chase  (JPM) - Get JP Morgan Chase & Co. Report said it was disbanding. Haven will end its independent operations at the end of February.

“Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of their own employee populations," Haven said in a statement.

On Monday, Walmart said it was teaming with Ribbit Capital, parent of the Robinhood investment platform, on a fintech startup aimed at serving customers and employees.

Walmart said it would hold a majority stake in the venture.

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