Amazon to Acquire PillPack

Pillpack

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

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 USA who can benefit from a better pharmacy experience". The service is available in 49 states, with its main pharmacy located in Manchester, New Hampshire.

PillPack is pitched as a way to bring convenience to people who take multiple medications every day.

A PillPack spokesperson said the deal won't have any impact on the Somerville workforce.

The transaction is expected to close during the second half of 2018.

There's a reason shares of CVS, Walgreens, and Rite Aid were tumbling Thursday, and it can be summed up in one word: Amazon.

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With its user-friendly packaging and design, PillPack has shaken up the pharmacy business, generating more than $100 million in revenue previous year. The firm also helps to co-ordinate refills and renewals.

The deal could give Amazon another major foothold in New England, where it has made several major acquisitions and investments in recent years. "Together with Amazon, we are eager to continue working with partners across the healthcare industry to help people throughout the USA who can benefit from a better pharmacy experience". Pharmacy benefit manager Express Scripts was also lower.

PillPack is still a relatively small player in the pharmacy space, and it has a lot of obstacles to overcome to compete with established pharmacy giants, he said.

Of course, Amazon is in the midst of developing a joint healthcare venture in partnership with the CEOs of Berkshire Hathaway and JP Morgan Chase.

The value of the deal was not disclosed. "Even if PillPack is a network provider today, it does not mean it will be a network provider in the future, especially if Amazon has designs of significantly ramping its prescription volume".

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