Published: Thu, June 28, 2018
Health Care | By Cedric Leonard

Amazon to Acquire PillPack

Amazon to Acquire PillPack

Jeff Wilke, CEO of Amazon's World Wide Consumer unit, added: "PillPack's visionary team has a combination of deep pharmacy experience and a focus on technology".

Amazon, Berkshire Hathaway (BRKa.N) and JPMorgan (JPM.N) announced a joint venture in January, saying us healthcare costs were rising too fast and holding back economic growth.

Walmart was looking to buy PillPack for under $1 billion, CNBC had reported in April.

Last week, Amazon, JPMorgan Chase and Berkshire Hathaway announced Boston doctor Atul Gawande as the chief executive of the companies' new health care venture, which will be based in Boston.

PillPack pre-sorts pills into date- and time-stamped packets for patients who take multiple drugs - common for older people dealing with several chronic conditions.

Trump, Putin Will Meet for Summit
According to Bolton, he's now employed as an adviser to Donald Trump and is fully focused on promoting the president's agenda. Since coming to power past year , Trump has sought to improve relations with Putin amid tensions between Moscow and the West.

"Together with Amazon, we are eager to continue working with partners across the healthcare industry to help people throughout the United States who can benefit from a better pharmacy experience", PillPack co-founder and CEO TJ Parker said in a statement.

"We want to help them continue making it easy for people to save time, simplify their lives, and feel healthier".

Walgreens shareholders seem particularly nervous about Amazon's advances into the pharmaceutical space.

Acquiring PillPack marries the company's aspirations to move into consumer-centric healthcare verticals and its strong focus on complex logistics and delivery systems. The service is aimed at people taking more than one prescription drug every day. Led by Parker, a licensed pharmacist, it was an early entrant into the field of online medication delivery. Its software helps drugstore manage refills and offers an online dashboard for patients.

Amazon and PillPack said they expected to close the deal by the end of the year, subject to regulatory approval.

Like this: