Amazon Has Acquired An Online Pharmacy For $1 Billion
Amazon recently announced that it had teamed up with JPMorgan and Berkshire Hathaway for a healthcare joint venture and just a week back, the partners appointed a CEO for the venture. Amazon’s latest acquisition hints at the kind of role it may be looking to play in the healthcare industry in the future. Amazon has acquired PillPack, an online pharmacy which enables customers to buy medications in pre-made doses.
While Amazon hasn’t confirmed the terms of its deals with PillPack, sources close to the deal tell TechCrunch that the company has paid just under $1 billion for PillPack. Walmart was reportedly in talks with the company for an acquisition as well but apparently, Amazon swooped in with a better offer and acquired the company.
It will be interesting to see how PillPack gets scaled out now after its acquisition by Amazon which obviously has significantly deeper pockets that the company previously had. “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” said Jeff Wilke, Amazon CEO Worldwide Consumer.
Amazon adds that the closure of this transaction is subject to regulatory approvals and other conditions. It expects to close the deal during the second half of this year.
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