Medical

Amazon to Acquire PillPack

Amazon to Acquire PillPack

Amazon on Thursday announced it had signed an agreement to acquire PillPack, an online pharmacy.

Financial terms of the deal were not disclosed, but sources cited by TechCrunch peg the price at just under $1 billion.

It also coordinates refills and renewals, and makes sure shipments are sent on time. The startup was founded in 2013 in Boston, a hub for health-care training and technology.

PillPack has raised more than $100 million in investor funding. "We're excited to see what we can do together on behalf of customers over time".

"Together with Amazon, we are eager to continue working with partners across the health care industry to help people throughout the USA who can benefit from a better pharmacy experience", PillPack chief executive TJ Parker said in a statement. The company sorts your pills by dose, including vitamins and over-the-counter medicine, into personalized daily packets and delivers everything right to your door each month.




"Manchester is proud to be home to innovative companies like PillPack that are not only driving our city's economic growth, but improving people's lives".

But the prospect of major retailers like Amazon getting into the business has roiled the traditional pharmacy world even further.

TJ Parker, PillPack's co-founder and chief executive, said: "Together with Amazon, we are eager to continue working with partners across the healthcare industry to help people throughout the U.S. who can benefit from a better pharmacy experience".

The transaction sets up a showdown between Amazon and pharmacy-benefit managers including Express Scripts Holding Co., which recently agreed to be acquired by health insurer Cigna Corp., and CVS Health Corp.

It expects to complete the deal in the second half of the year. Earlier this year, the technology giant announced its move into US employee health care via a partnership with Berkshire Hathaway and JPMorgan, while reports have been surfacing for a while that it was looking to enter the lucrative pharmaceutical realm.


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