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Recommended: Walmart Is Looking At Buying PillPack, An Online Pharmacy

Online pharmacy start-up PillPack is in talks to be acquired by Walmart for under $1 billion, according to two sources familiar with the matter.

PillPack’s focus on making it easier for customers to order and fulfill medications is an attractive proposition for Walmart and other e-commerce companies that are looking to enhance their health care offerings. The talks come amid reports of early acquisition talks between Walmart and health insurance giant Humana, which would be a much larger deal.

The sources cautioned that the PillPack deal is not yet finalized and could still fall apart, and that Walmart has considered buying a number of start-ups. Still, the sources said discussions between the two about a sale have been happening for months.
PillPack manages prescription medications for its customers which include those with multiple chronic conditions — all by packaging, organizing and delivering drugs. It boasts a “full-service” pharmacy, meaning its customer service team is available 24/7.

One person close to the deal said that PillPack is committed to offering its service to customers, regardless of a buy-up.

The start-up has raised $118 million in funding from investors including CRV and Menlo Ventures, and it reached more than $100 million in revenue in 2017, the company says. In 2016 it was reported to be valued at $330 million.

Health experts say that a PillPack buy-up makes sense for Walmart, especially in light of its talks with Humana. Both companies are looking for ways to serve vulnerable seniors with one or more medical conditions….

Read more at cnbc.com

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