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- Amazon sent shockwaves through the healthcare industry when in June 2018 it acquired online pharmacy PillPack in a $750 million deal.
- At the time of the deal, the company was on track to make $299 million in annual revenue, according to a pitch deck reviewed by CNBC reporter Christina Farr.
- In 2019, that number was expected to double to $635 million. PillPack projected 2020 revenue of $1.2 billion, CNBC reported.
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At the time that Amazon acquired PillPack, the pharmacy startup was making hundreds of millions in revenue, CNBC reported.
At the time of the deal, the company was on track to make $299 million in annual revenue, according to a pitch deck reviewed by CNBC reporter Christina Farr. In 2019, that number was expected to reach $635 million, before doubling again to $1.2 billion in 2020.
PillPack mails prescriptions to people who take multiple medications, packaging them together based on dose. The company has pharmacies around the country that send out medication via mail.
A representative for PillPack declined to comment on the report.
So far, Amazon hasn’t said much about what its plan is for PillPack. CNBC reported that a group of health insurers approached PillPack about providing its services to their customers, though no agreement has yet been reached.
Former Aetna CEO Mark Bertolini told Business Insider’s Rich Feloni in 2019, that from where he Bertolini sits, the deal had less to do with running a pharmacy and was more about finding a new way to get into people’s homes.
"Amazon bought PillPack, but it wasn’t about the pills," Bertolini said. "It was about getting into the home with Alexa where they can learn more about what we can do to provide health."
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