A week after appointing a CEO for its healthcare joint venture with Berkshire Hathaway and JPMorgan, Amazon today announced an acquisition that underscores how it also hopes to have a more direct — and more commercial — role in the world of healthcare in the coming years. The company has purchased PillPack, an online pharmacy the lets users buy medications in pre-made doses.
Terms of the deal have not been disclosed by Amazon, but sources close to the deal say it was for just under $1 billion. PillPack had reportedly been in talks with Walmart — one of Amazon’s big rivals — for an acquisition, and we confirmed that this was indeed the case. “But someone” — that is, Amazon — “came along offering more.”
According to PitchBook, PillPack was last valued at $361 million after a round of funding in 2016. This deal is expected to close in the second half of 2018.Read Complete Article