Amazon announced Thursday (June 28) that it has inked a deal to acquire PillPack, the pharmacy focused on people in the U.S. who take multiple daily prescriptions. Terms of the deal were not disclosed.
In a press release, Amazon said it was drawn to the company because it is having a positive impact on patients' lives. PillPack delivers medications in pre-sorted does packaging, coordinates refills and renewals and ensures shipments are sent on time. “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” says Jeff Wilke, Amazon CEO Worldwide Consumer in the press release. “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.”
Amazon said the deal, which is subject to regulatory approvals and customary closing conditions, should be completed during the second half of this year. “PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier,” said TJ Parker, co-founder and CEO of PillPack in the same press release. “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.”
For months now speculation has abounded about Amazon's entrance into the healthcare and pharmacy markets. While the eCommerce giant had plans to via Amazon Business, the Amazon unit that sells bulk products to businesses, to sell pharmaceutical products but decided against it. In April CNBC, citing people familiar with the matter, reported that Amazon found the pharmaceutical market more challenging than anticipated. As a result, the eCommerce giant is now focused on selling medical supplies to hospitals and smaller clinics via its Amazon Business service.