Here's what we know about Amazon's foray into healthcare
Original Post @ www.beckershospitalreview.com
By: Alia Paavola
Speculation about Amazon’s entry into healthcare has been rampant for years, but recent announcements by the e-commerce giant make it clear that it’s jumping into the healthcare arena in a big way.
Here’s a breakdown of Amazon’s healthcare ventures, acquisitions, hiring trends and product developments reported by Becker’s Hospital Review. The timeline includes Amazon’s healthcare moves since announcing it would launch a healthcare company with Amazon, Berkshire Hathaway, and JPMorgan Chase in January 2018.
Jan. 30. Amazon announces it will collaborate with Berkshire Hathaway and JPMorgan to launch a company aimed at cutting healthcare costs for their U.S. employees. Shares of other healthcare companies plummet shortly after the announcement.
Feb. 13. Sources familiar with Amazon’s plans say it is pushing to turn its medical supplies business into a major supplier to U.S. hospitals and outpatient clinics. The idea is to establish a one-stop-shop for health systems through its separate business-to-business marketplace, Amazon Business. On several occasions, Amazon invited hospital executives to its Seattle headquarters to float ideas for expanding this medical supplies business.
Feb. 21. Reports surface that Amazon has quietly launched an exclusive line of 60 over-the-counter healthcare products. The line is a private label brand called Basic Care and has products ranging from ibuprofen to hair regrowth treatment.