17 Jun Airo AV Says: Walmart buys CareZone’s medication management technology
In its latest move to compete with pharmacy services, Walmart bought CareZone’s medication management software. Walmart will acquire CareZone’s technology platform and key intellectual property, the company announced on Monday.
San Francisco-based CareZone developed an app that lets users create medication lists, provides refill reminders and helps facilitate medication delivery. They can also scan their health insurance card or prescriptions labels to make the process easier. The startup had raised more than $160 million, with New Enterprise Associates leading its most recent funding round, according to Crunchbase.
With the acquisition, CareZone’s product and technology team will join Walmart to work on its digital health care solutions.
“The goal of any technology startup is to build a product or experience that touches the lives of as many people as possible,” CareZone Co-Founder and CTO Walter Smith said in a news release. “Adding our technology platform to Walmart’s existing digital capabilities and physical reach creates a unique opportunity to redefine what the future of digital health and wellness can look like. The CareZone team members joining Walmart are excited to bring our knowledge and apply it to such a broad canvas.”
The move is one of many made by Walmart as looks to take a bigger bite out of healthcare. The retailer first posed a threat to pharmacy chains more than a decade ago when it began offering a list of generics for $4, a move that was later adopted by many grocers and other retailers.
Walmart also touted its recent launch of Walmart Health in Georgia, a clinic where patients can get check-ups, x-rays, eye exams, dental care and behavioral health services. The company also has more than a dozen smaller retail clinics across Georgia, Texas and South Carolina.
Walmart’s biggest competitor, Amazon, has also expanded its healthcare services. The company acquired mail order pharmacy company PillPack last year for $753 million last year. More recently, the company rolled out a new service for its employees called Amazon Care, which would allow them to chat with providers, have prescriptions delivered to their house and receive in-home care. Amazon has not yet shared whether it has plans to release the service to the broader public.