Walmart and Amazon, fighting over e-commerce market share, have recently made major moves into the world of healthcare.
Walmart has been working for months on a deal to buy startup PillPack Inc., according to a report from CNBC.
CNBC reported the price tag would be “under $1 billion,” citing two sources familiar with the matter. If a deal came together at anywhere near the $1 billion price point, it would be a significant increase from PillPack’s reported valuationof $330 million in September 2016.
Some have previously speculated that the medication delivery startup could be an acquisition target for Amazon, which is rumored to be considering an entrance into the drug-delivery market. CNBC is also reporting that Amazon looked into acquiring PillPack and held conversations. Read more at Bizwomen
PillPack markets itself as a “full-service” pharmacy with a 24/7 customer service team. It manages prescription medications for its customers by packaging, organizing and delivering them.
CNBC quotes Bob Kocher, MD, a health investor with Venrock:
A PillPack-like experience for customers would be a huge differentiator for any pharmacy. Walmart is trying to offer a better e-commerce experience as a retailer, as well as on the health side with its pharmacies, and it wouldn’t cost them that much to buy a company like PillPack.