Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Taken Over: Amazon Buys Online Medicine Platform PillPack for $1 Billion

Taken Over: Amazon Buys Online Medicine Platform PillPack for $1 Billion

Amazon takes over PillPack, an online Medical pharmacy based in the USA, for $1billion. The announcement was made public on Thursday.

The acquisition gives the e-commerce giant the ability to ship prescriptions around the country, and overnight, makes it a direct threat to the more than $400 billion pharmacy business.

“PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” says Jeff Wilke, Amazon CEO of Worldwide Consumer, in a statement.

“We have wrapped up the deal by paying $1 billion in cash for PillPack,” he said.

The online Medical pharmacy pre-sorts medications and delivers them to customers in 49 U.S. states, excluding Hawaii. Now, with the acquisition of the pharmacy start-up, people will now able to buy medicines and any other medical related products through the Amazon website.

The acquisition adds to recent moves by Amazon to wade deeper into health care, from pushing supplies for hospitals to helping form a non-profit aimed at addressing rising costs.

Boston-based PillPack, which was started in 2013, has raised $118 million from venture capitalists including Atlas Venture, Accel Partners and CRV. Its co-founder and CEO TJ Parker said in November that it had tens of thousands of customers and was on track for more than $100 million in annual revenue, The Wall Street Journal reports.



Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...