By Liam Rawson, programme executive at Hotwire
So far, 2018 has been no stranger to developments in the health tech scene. From Babylon signing a deal with Samsung earlier in the month to CMR raising £75M for the development of robotic surgery.
And while advancements in innovation, research and large investments have taken place left right and centre there is one company that is making its presence and intentions very clear this year; Amazon. It has conquered and revolutionised the retail sector, and now the company has its eyes on digital health.
The e-commerce giant has made another move this month by acquiring @PillPack, a pharmacy that deals with customers in need of multiple daily prescriptions. Earlier this year it announced its partnership with two other corporate giants; JP Morgan Chase and Berkshire Hathaway with aims to reduce healthcare bills for their own employees.
Amazon has a winning formula following the success of its strategy with Whole Foods. By acquiring a company well engrained in the market, they can catapult in rather than build up.
Mail delivery prescriptions is a concept in nascent stages, but it could well be one to revolutionize healthcare. With an aging population globally and consumers increasingly expecting instant service/delivery – one can see why this move is not necessarily surprising.
Amazon declared its intention to move into US healthcare business by acquiring an online pharmacy group that delivers prescriptions to the homes of patients with chronic ailments, sending investors fleeing from traditional drugstore chains.