Choreograph / iStock
The acquisition is Amazon's latest foray into health care after forming a health JV with Berkshire and JPMorgan.
E-commerce giant Amazon has agreed to acquire online pharmacy startup PillPack in a move that will strengthen its position in the health care market.
The acquisition is Amazon's latest foray into health care after forming a new non-profit company aimed at improving healthcare options in the US and reducing costs. Amazon has teamed up with Warren Buffett’s Berkshire Hathaway and JPMorgan Chase for this joint venture.
PillPack is a pharmacy that lets users buy medications in pre-made doses. The deal is expected to close in the second half of 2018.
“PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” said Jeff Wilke, Amazon CEO Worldwide Consumer. “PillPack is meaningfully improving its customers’ lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier. We’re excited to see what we can do together on behalf of customers over time.”
TJ Parker, co-founder and CEO of PillPack, said: “PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier. 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.”
Amazon, PillPack, Online pharmacy, Berkshire, JPMorgan, Acquisition, Healthcare, TJ Parker, Jeff Wilke, US