“The safest way to double your money is to fold it over once and put it in your pocket.”
– Frank McKinney Hubbard
Back in June, while Wall Street was looking at the tremendous growth of tech companies, especially those in the social media space, Amazon (you know, one of the largest companies on the planet) quickly and quietly acquired a relatively small online pharmacy. The tech giant acquired PillPack, a small .com with under 400 employees, for roughly $1 Billion.
Amazon already has partnerships for over-the-counter (OTC) drug sales and can even sell medical devices. Now they are going full force into the online pharmacy game. With even a small player like PillPack generating over $100 Million in revenue, one can only imagine what will happen with Amazon’s market reach.
If you are trying to see how all the industry consolidation affects your employees and the bottom line of your business, contact one of our BenefitCorp consultants. They’ll have the latest industry news on M&A, government regulations, and cost-saving strategies.