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.



Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...