Amazon acquires pharmacy startup PillPack; purchase price thought to be near $1b

PillPack prepackages and mails consumers pills.									Pat Greenhouse  The Boston Globe

PillPack prepackages and mails consumers pills. Pat Greenhouse The Boston Globe

On Thursday, Amazon announced its plans to acquire PillPack for an undisclosed amount. The startup, which was founded in 2013, ships medications to people in the U.S. in pre-sorted dose packaging and caters to people who take multiple prescriptions a day.

The purchase follows the announcement in January that Amazon, Berkshire Hathaway Inc and JPMorgan Chase & Co were forming a joint venture to tackle rising USA health care costs. "PillPack is meaningfully improving its customers' lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier".

TJ Parker, PillPack's co-founder and chief executive, said: "Together with Amazon, we are eager to continue working with partners across the healthcare industry to help people throughout the USA who can benefit from a better pharmacy experience". "We're excited to see what we can do together on behalf of customers over time".

Travelers Championship: Bubba Watson completes comeback win as Paul Casey fades
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).

With Amazon's (amzn) firepower behind it, PillPack can upend how customers buy and receive their prescription medications. Startups like San Francisco-based Nimble Pharmacy, which recently expanded to Seattle, are also taking a swing at the space. Drugs are sorted by day and time, rather than medication.

PillPack, which also serves patients with multiple chronic conditions, is authorized to deliver in 49 states. Its software helps drugstore manage refills and offers an online dashboard for patients. Amazon says it expects the deal to close during the second half of this year, pending regulatory approval.

The company's backers include Accel Partners, Atlas Venture, CRV, Founder Collective, Menlo Ventures, Sherpa Ventures and Techstars.

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