Even before COVID-19, medical clinics in retail strip centers and large shopping centers, known as medtail, were commonplace. But this trend has only accelerated in recent months and will likely continue throughout 2021, according to Tether Advisors.

"COVID-19 has sped up the inevitability that preventative wellness is no longer a choice," said Willie Hoag, principal at Tether Advisors. "The retail space is overbuilt, mediocre and redundant. The innovation we've seen directed at that space is just the beginning. It's exciting that a new group of players is filling former retail spots while providing access and convenience to consumers. Most importantly, the convergence could make us a healthier society."

This broader trend is clear in Tether Advisors' new 2021 retail healthcare outlook. This outlook is the culmination of Tether research during the second half of 2020 that queried 120 executives who work in private equity, commercial real estate and retail healthcare as well as 100 consumers.