Amazon has acquired pharmacy benefit manager Amazon Pharmacy in a deal valued at $1.3 billion.
Amazon has purchased pharmacy benefit management Amazon Pharm, which it acquired in 2014 for $1 billion, the company announced Wednesday.
Amazon’s acquisition of Pharmacy Benefit Manager, a pharmacy benefit planning and management platform, comes amid growing interest in the platform as it competes with the likes of Google and Apple.
The deal will create a new entity with Amazon’s expertise in pharmacy benefit plans.
The company said it will retain Pharmacy Benefits Manager’s existing team and the leadership team of Pharmacists United, a group that helps to improve access to pharmacy benefits for patients.
“We are proud to be joining forces with Amazon to drive pharmacy benefit growth and bring more people into the pharmacy benefit market,” Pharmacists Union President and CEO John DeCamp said in a statement.
“This transaction represents the next logical step for Amazon to bring better access to prescription drug coverage for patients.”