Published: Thu, June 28, 2018
Medical | By Marta Holmes

Amazon moves to disrupt pharmacy sector with new acquisition

Amazon moves to disrupt pharmacy sector with new acquisition

Amazon has announced plans to acquire PillPack, an online pharmacy that sorts patients' medications into personalized packets that are delivered directly to their door.

Parker grew up behind the counter of his father's drug store in Concord, N.H., and has spoken of his exasperation seeing customers resort to spreadsheets to figure out how to schedule and sort their medications.

In a statement, PillPack CEO and Co-Founder TJ Parker said the company, together with Amazon, plans to "continue working with partners across the healthcare industry to help people throughout the USA who can benefit from a better pharmacy experience".

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

More news: Priyanka Chopra gushes over Nick Jonas in Instagram snap in India

"PillPack's visionary team has a combination of deep pharmacy experience and a focus on technology", says Jeff Wilke, Amazon CEO Worldwide Consumer.

"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.

"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.

PillPack earned an "excellent" rating in PCMag's 2014 review.

More news: Patty Jenkins Gives First Look at Kristen Wiig in Wonder Woman 1984

Building on some of those ideas, PillPack set out to help people who use multiple prescriptions better manage the process.

The acquisition by Amazon comes as a range of companies are exploring mergers that could disrupt the health care system. "Success is going to require talented experts, a beginner's mind, and a long-term orientation". Amazon didn't disclose the value of the deal.

PillPack has raised more than $100 million in investor funding. Pharmacy benefit manager Express Scripts was also lower.

It also coordinates refills and renewals, and makes sure shipments are sent on time.

More news: Mesut Ozil and Mats Hummels return as Germany make five changes

The company said earlier this year it will bring about 2,000 new employees to a new Seaport building, on top of an additional 900 in a new Fort Point office. Beyond its recently announced move to form a venture with JPMorgan and Berkshire Hathaway to tackle wasteful health care spending, the PillPack acquisition is the first substantive step toward potentially upending the prescription drug supply chain.

Like this: