Breaking news today as Amazon and PillPack have announced that they have entered into a definitive merger agreement under which Amazon will acquire PillPack.
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PillPack is a pharmacy designed to provide the best possible customer experience in the U.S. for people who take multiple daily prescriptions. PillPack delivers medications in pre-sorted dose packaging, coordinates refills and renewals, and makes sure shipments are sent on time.
“PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology…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.” Jeff Wilke, Amazon CEO Worldwide Consumer.
Amazon Enters The Pharmacy Sector With PillPack
It is that time of the year again where Amazon manages to disrupt an entire sector by announcing an acquisition. Just like what happened when they announced the acquisition of WholeFoods about a year ago. On this news other grocery stores and chains had millions wiped off their stock price.
History looks to be repeating itself as on the news of Amazon acquiring PillPack as Sally Shin and Mike Dudas pointed our on Twitter:
— Mike Dudas (@mdudas) June 28, 2018
The acquisition is said to be just under $1 Billion which is not a huge amount to the likes of Amazon. It will be interesting to see what their plans are within the Pharmacy sector but CNBC Now are also highlighting the effect this has had on the leading Drug DIstributors and Phamacies
— CNBC Now (@CNBCnow) June 28, 2018
“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.” TJ Parker, Co-Founder and CEO of PillPack.
Completion of this transaction is subject to regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the second half of 2018.
What are your thoughts on this latest Amazon acquisition? Is it a good move to disrupt another industry or further proof of Amazon’s world domination? Let us know in the comments down below or over on our Facebook Group.
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