Amazon recently announced that it had teamed up with JPMorgan and Berkshire Hathaway for a healthcare joint venture and just a week ago, the partners appointed a CEO. Amazon’s latest acquisition gives us an idea of the kind of role it may be playing in the healthcare industry soon. It turns out that Amazon has acquired PillPack, an online pharmacy which allows customers to buy medications in pre-made doses.
Amazon hasn’t confirmed the terms of its deal with PillPack, but sources close to the deal say that the company paid just under $1 billion for PillPack. It was rumored that Walmart was in talks with the company for an acquisition as well but it looks like Amazon won out with a better offer and acquired the company.
It will be interesting to see how they proceed with their plans now. “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” said Jeff Wilke, Amazon CEO Worldwide Consumer.
Amazon says that the closure of this transaction is subject to regulatory approvals and other conditions. It expects to close the deal during the second half of this year. This is a big move for the online retail giant.