Amazon to buy PillPack in drug retailing push

Faith Castro
June 28, 2018

In a statement, PillPack CEO and Co-Founder TJ Parker said the company, together with Amazon, plans to "continue working with partners across the healthcare industry to help people throughout the United States who can benefit from a better pharmacy experience". Industries ranging from grocery stores to athletic-apparel retailers to package-delivery services have also, in the past year, seen billions in market value erased by a single Amazon announcement.

Watch Walgreens, CVS, and Rite Aid trade here.

Now, in an acquisition that could upend the pharmacy market, the retail giant has made its move. The company sorts your pills by dose, including vitamins and over-the-counter medicine, into personalized daily packets and delivers everything right to your door each month.

The startup has raised north of $120 million in funding from big-name backers that include TechStars, Menlo Ventures, and Accel.

The deal - for which terms were not immediately disclosed - marks Amazon's latest push into the healthcare industry. "PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier", its cofounder and CEO TJ Parker said in a press release. This system is particularly convenient for people who require ongoing repeat prescriptions, as PillPack arranges the refills and renewals on behalf of the patient.

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Founded out of Boston in 2013, PillPack invites customers to sign up online, and the company then dispatches "over-the-counter" and prescription medications in individual packs organized by date and time.

PillPack was a 2014 finalist for Co.Design's Innovation By Design Awards.

"PillPack's visionary team has a combination of deep pharmacy experience and a focus on technology", said Jeff Wilke, head of Amazon Worldwide Consumer. Pharmacy benefit manager Express Scripts was also lower.

The company said earlier this year it will bring about 2,000 new employees to a new Seaport building, on top of an additional 900 in a new Fort Point office.

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