Walmart Inc (NYSE:WMT) is reportedly in talks to purchase online pharmacy startup PillPack.
According to this report, Walmart has reportedly been in talks with PillPack about the acquisition for months now. It also claims that the retail giant is looking to spend less than $1 billion on the deal.
Neither Walmart Inc or PillPack are will to discuss the details of the possible talks between them. However, WMT looking to acquire the company isn’t much of a surprise. It would give the retailer an easy way to expand its pharmacy online.
PillPack’s main focus is filling out prescriptions for customers online. It has a team that is able to take orders anytime on any day of the week. It handles packing, organizing and shipping the drugs to customers. It’s last reported value was $330 million back in 2016.
“Walmart is trying to offer a better e-commerce experience as a retailer, as well as on the health side with its pharmacies, and it wouldn’t cost them that much to buy a company like PillPack,” Bob Kocher, a Venrock health investor, told CNBC.
A possible acquisition of PillPack isn’t the only health push that Walmart is likely looking into. Other recent reports claim that the company is in the early stage of talks with Humana Inc(NYSE:HUM) about an acquisition. Even if the deal falls apart, it could result in a closer relationship between the two companies.
WMT stock was largely unaffected by the recent reports.
As of this writing, William White did not hold a position in any of the aforementioned securities.