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A week after appointing a CEO for its health care joint venture with Berkshire Hathaway and JPMorgan, Amazon announced today an acquisition that highlights how it also hopes to have a more direct – and more commercial – role – in the world of health care. years. The company has purchased PillPack, an online pharmacy that allows users to buy drugs at pre-manufactured doses.
The terms of the deal have not been unveiled by Amazon, but PillPack would have been in talks with Walmart – one of Amazon's biggest rivals – for an acquisition of 39, just under $ 1 billion. According to PitchBook, PillPack was last evaluated at $ 361 million after a funding cycle in 2016. This transaction is expected to close in the second half of 2018.
The move (and the reported valuation increase) show how much the health market is becoming, and also how Amazon sees it as a key frontier in its attempt to be the benchmark for everything that a consumer (or a medical organization) could want or need in the field of health care.
Amazon in the trade plays a major role in how the market is about to develop: the purchase of the company is not only a sign of the growth of PillPack (especially by the Amazon JV) but also the way others have to answer. Until now, the market punishes the rest for not being where Amazon seems to go.
"The visionary team at PillPack combines deep pharmacy experience and a focus on technology," says Jeff Wilke Amazon Worldwide Consumer CEO, in a Press release. "PillPack significantly improves the lives of its customers, and we want to help them continue to make life easier, simplify their lives and make them feel better." We're excited to see what we can do together on behalf of customers over time. "
PillPack has a license to operate in all 50 US states and has other accreditations such as URAC and VIPPS, but does not appear to be operational in international markets . His PharmacyOS – the system he's built and that forms the basis of the company – is a platform that helps manage patient data and find out how to balance safe dose medication for his clients. .
very real: the United States is a huge consumer of drugs, and part of them has tipped into a big epidemic of abuse. While there is much to be done to tackle this problem in the short and long term, at least helping to provide controlled doses of what patients are prescribed is one aspect of how to tackle the problem.
TJ Parker, co-founder and CEO of PillPack, will remain to lead the company.
"PillPack makes it easy for the client to take medicine at the right time and feels healthier," he said. A declaration. "Together with Amazon we look forward to continuing to work with healthcare industry partners to help people in the United States benefit from a better pharmaceutical experience."
PillPack raised $ 123 million Accel, Charles River Ventures and Menlo Ventures.
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