106797515-1605549084509-Amazon_Pharmacy_asset.jpg
GENERAL

Amazon loses PillPack founders 4 years after acquisition – EAST AUTO NEWS

Amazon loses PillPack founders 4 years after acquisition


With Amazon Pharmacy, Prime clients in the US can get their prescription medicines shipped to their residence without spending a dime.

Amazon

Two Amazon executives who performed a formative function within the retail large’s push into well being care are departing.

TJ Parker and Elliot Cohen, the co-founders of prescription drug startup PillPack, will go away Amazon on the finish of this month, in line with a submit on Parker’s LinkedIn profile. Amazon purchased PillPack in 2018 for about $750 million.

After the acquisition, Parker and Cohen helped steer the launch of Amazon Pharmacy, the corporate’s on-line pharmacy for delivering prescription medicines within the U.S. Each Parker and Cohen served as vice presidents of pharmacy up till lately, after they have been shifted to consulting roles, Axios reported.

“I am writing to allow you to all know that Elliot and I are shifting on from PillPack and Amazon on the finish of the month,” Parker wrote. “Out of all the pieces, it is the those that we met alongside the way in which and that joined us on this journey that we’ll bear in mind most fondly, and we’ll miss you all.”

Parker and Cohen co-founded PillPack in 2013. Parker, who’s dad was a pharmacist, attended pharmacy faculty in Boston. He met Cohen, who was in enterprise faculty at MIT. PillPack began serving clients in 2014, and Parker’s dad joined as one of many firm’s first pharmacists.

Amazon has accelerated its push into well being care in recent times, although not all of its efforts have been profitable. The pharmacy enterprise struggled to realize traction, and Amazon lately introduced it will shutter its telehealth service Amazon Care after discovering it wasn’t a “full sufficient providing” for patrons.

Early final 12 months, a three way partnership Amazon had fashioned with Berkshire Hathaway and JPMorgan Chase to decrease health-care prices disbanded. The entity was known as Haven, and its preliminary anticipated entry into the health-care market had despatched shares of suppliers tumbling.

Nonetheless, Amazon is investing important capital and assets within the house. In July, Amazon stated it will purchase One Medical for $3.9 billion, bringing in a community of boutique main care clinics. Amazon additionally operates a client diagnostics enterprise.

Amazon had reshuffled its well being management previous to Parker and Cohen’s departure. Final December, CNBC reported the corporate elevated its former Prime boss Neil Lindsay to supervise its well being efforts. John Love, who beforehand served as a vice chairman in Amazon’s Alexa division, was named vice chairman of Pharmacy and PillPack in January.

In a memo to the well being companies staff on Monday, Lindsay known as the departure of Parker and Cohen “bittersweet” and thanked the PillPack founders for serving to develop the technique “to assist enhance the shopper well being care expertise.”

“Pushed by their imaginative and prescient and buyer obsession, the PillPack enterprise and capabilities turned the muse of Amazon Pharmacy,” Lindsay wrote.

WATCH: Amazon launches on-line pharmacy in the US

Amazon loses PillPack founders 4 years after acquisition – EAST AUTO NEWS
Comments

TOP STORIES

To Top
SELECT LANGUAGE »