Amazon makes big foray into health care with PillPack acquisition

Amazon buys PillPack an online pharmacy that was rumored to be talking to Walmart		
		
	Ingrid Lunden

       @	   
   	7 hours

Amazon announced Thursday that it is acquiring the online pharmacy PillPack, a sign of its long-rumored push into the pharmacy business.

The news sent the shares of drugstore giants CVS Health (cvs), Walgreens Boots Alliance (wba), and Rite Aid (rad) plunging between 8% and 10%. Shares of drug wholesalers Mckesson Corp, Cardinal Health and AmerisourceBergen were also down. Startups like San Francisco-based Nimble Pharmacy, which recently expanded to Seattle, are also taking a swing at the space.

Amazon, which has become a retail behemoth since its start as an online bookseller in 1994, is known for its willingness to forego profit, while slashing prices to win customers. Terms of the deal were not disclosed, but Amazon referred to the deal as a "definitive merger agreement".

The announcement comes one week after Amazon, JPMorgan Chase and Berkshire Hathaway revealed the CEO of their new healthcare tech company.

UKs Prince William begins politically delicate Mideast trip
In a 1994 visit to Yad Vashem, Prince Philip, the Duke of Edinburgh, planted a tree there in his mother's honor. Prince William has arrived in the Middle East for his most diplomatically sensitive royal tour to date.

"In our view, this is only the first play in what will be an increasingly aggressive strategy by Amazon to develop a much more significant presence in the pharmacy market", he said.

Someday soon, the workers in Amazon-branded shirts and vans could be delivering customers' medication. The three companies said they would use big-data analysis and other high-tech tools to improve care and cut waste. It also handles deliveries, refills, and adjustments to medications.

The company had attracted interest from Walmart Inc, which was looking to buy it for under $1 billion, CNBC had reported in April.

It expects to complete the deal in the second half of the year.

Related News:

  • Paul George wants to be happiest with his decision

    Paul George wants to be happiest with his decision

    The first part of the series will follow George's rise to National Basketball Association stardom. With NBA free agency about to begin, we break down the top 15 free agents for this offseason.

    Trump says Harley move overseas would be ‘beginning of the end’

    Trump was referring to, and why the company might have to pay them since it intends to maintain production in the U.S.as well. The president followed up by warning the company that goods produced overseas and imported back into the USA could be taxed.
    Kvitova sees off Rybarikova to retain Birmingham title

    Kvitova sees off Rybarikova to retain Birmingham title

    The Nature Valley Classic final between Kvitova and Rybarikova is scheduled on the Ann Jones Centre Court, at 1:30pm. It's a little bit of a different mindset with a Grand Slam, and I will try to set up my mind for this tournament".
  • General Electric breaks off healthcare to focus on power, aviation

    General Electric breaks off healthcare to focus on power, aviation

    Referred to as "market cap", it is determined by doubling a company's shares outstanding by the current market price of one share. Kieran Murphy, president and CEO of GE Healthcare, will continue to lead the standalone company under the GE brand.
    Merkel downplays prospect of Brussels breakthrough on migration

    Merkel downplays prospect of Brussels breakthrough on migration

    Since 2015, migration has decided elections across the bloc from Italy to Hungary, with voters favoring a tougher stance. No country has so far agreed to host any screening centers, according to the EU's top migration official.

    Colbert, Fallon, O'Brien 'collude' on response to Trump attacks

    I didn't think that would be a compliment: "'He did the thing that we all wanted to do'". It's surprising Trump is orange because if you ask me, he is bananas".
  • Mosquitoes in Suffolk tested positive for West Nile Virus

    Mosquitoes in Suffolk tested positive for West Nile Virus

    No human cases of the virus have turned up this year in Pennsylvania, but in previous years, humans have contracted the disease. People who are experiencing symptoms of West Nile virus are encouraged to contact their local health care provider.
    Love Island 2018 fans react to shock double eviction results

    Love Island 2018 fans react to shock double eviction results

    However fans don't expect that he'll do the same for her. "Every time a new girl comes in, Adam can't seem to help himself". The girls sent home Eyal Booker while the boys chose to get rid of Zara McDermott , who was left in tears by the news.
    Clippers trading Austin Rivers for Wizards big man

    Clippers trading Austin Rivers for Wizards big man

    The Wizards reportedly had been looking for a team to take on the previous year of Gortat's contract. Rivers recently opted into his $12.6 million contract for the 18-19 season.
  • Trump threatens Harley-Davidson

    Trump threatens Harley-Davidson

    The plant, which is in the Northland near Kansas City International Airport, was built in 1998 and employs about 800 people. Republicans also used the Harley announcement to take a shot at Trump's recent trade attacks on the EU, Canada, and Mexico.
    Heather Locklear hospitalised for suspected overdose

    Heather Locklear hospitalised for suspected overdose

    Buschow described Locklear as "extremely intoxicated and very uncooperative" as she was handcuffed and taken into custody. In 2008, she was arrested on a DUI charge, and in 2012 she was hospitalized after a prescription drug scare.
    Diego Maradona: Lionel Messi's not to blame for anything

    Diego Maradona: Lionel Messi's not to blame for anything

    Nigeria know the threat they are about to deal with and will probably come with a plan to stop Messi. What a great touch, setup, and shot by Lionel Messi to put Argentina up 1-0.


Most liked

Know Your Status for National HIV Testing Day
" People can live long and normal lives with HIV with effective and free treatment available to them", says the health ministry. Philip said the state has two programs it plans to roll out to all 67 county health departments by the end of 2018.

Road warrior: Truex tricks Harvick on track, conquers Sonoma
By winning at Watkins Glen (N.Y.) worldwide road circuit past year , Truex has now won the last two NASCAR Cup Series road races. Kyle Busch , the 2015 champ, is in fifth behind 2012 Sonoma champion Clint Bowyer and 2011 victor Kurt Busch.

Why Kate Middleton Is Upset About Prince William's Trip
But Kate Middleton, who many feel is already a modern-day Diana in so many ways, assuming the title someday seems only fitting. According to The Sun , Kate Middleton could become the next Princess of Wales down the line when Queen Elizabeth passes away.

Danny Lee climbs the leaderboard at Travelers Championship
David Lingmerth (Arkansas Razorbacks) shot a 66, his best round of the tournament, and finished tied for 19th at 9 under. Open champion Brooks Koepka (nine under), Zach Johnson (nine under) and last year's victor , Jordan Spieth (four under).

We're here to win, not plot final route, says England's Southgate
Now, we seem to be faced with a similar dilemma with teams that play later can engineer their performance to chart their course. In fact, multiple changes might make the game even more competitive, according to Southgate.

Get ready for the final group stage matches
With Argentina facing a tough task to avoid elimination, we look at what lies ahead for the final matches in the group stage. The Aussies (one point) could pull level with Denmark on points (and pull ahead on goal difference) by defeating Peru .

Blood Moon 2018: Longest Total Lunar Eclipse of Century Occurs July 27
This was visible mostly in the USA and Canada, and only involved a full moon, which was the first of 2018. This eclipse will be 40 minutes longer than the previous super blue "blood moon" in January 2018 .

China, EU to form group to modernize global trade rules
He told CNBC: "We have to reform WTO in order to make multilateralism better functioning in the future". "I'm not naive. Follow Fin24 on Twitter , Facebook , Google+ and Pinterest .24.com encourages commentary submitted via MyNews24.

You can now play Mario Kart with Nintendo Labo's cardboard motorbike
Learn more about the contest and upload your submissions here: https: //labo .nintendo.com/share/#!/contest/. A new trailer showcasing Nintendo Labo support has also been released , and you can check it out below.

Trump Calls On Allies to Quit Buying Iranian Fuel. Oil Prices Soar
Rouhani announced plans to boost Iran's foreign trade and give foreign companies a bigger role in its economy. The government is justifying its latest clampdown on imports by citing economic security.

Another early exit for Socceroos at the World Cup
They could, however, take solace from a win which saw them climb off the foot of group B and finish their campaign third. France boss Didier Deschamps rung the changes for this afternoon's final group C match against Denmark.

Hamilton: 75th career pole was only so-so
The return of the French GP is the first part of an unprecedented tripleheader of three races on consecutive weekends. Sunday's race will be Formula One's first at Le Castellet's Paul Ricard circuit since 1990.

Chris Pratt & Bryce Dallas Howard Talk JURASSIC WORLD: FALLEN KINGDOM On TODAY
After sharing an article about Holland spoiling the Jurassic World film, Bayona replied to Holland by saying, "Don't worry, man". Isla Nublar's long-dormant volcano has awoken and is spewing lava, threatening another mass extinction.

Rockets Still Plan On Pursuing LeBron James
Casey's honour came despite a successful regular season which saw the Raptors finish with a franchise-record 59 wins. Casey was sacked by the Raptors after their second round exit and was then hired by the Detroit Pistons.

Latest US Supreme Court decision could hit SC wallets. Here's how
Sellers who use eBay and Etsy, which provide platforms for smaller sellers, also aren't required to collect sales tax nationwide. They instead suggested that Congress should pass legislation simplifying online sales tax to create a level playing field.