Walmart is acquiring technology and intellectual property from CareZone, a start-up that makes it easier for people to manage multiple medications, CNBC reported.
CareZone, which got its start in 2010, develops apps to help people manage their medicines. It also built technology for users to scan insurance cards and prescription drug labels. The apps have about 3.5 million members, according to CareZone CEO Jonathan Schwartz.
Walmart will take possession of these assets, and 25 to 30 engineering and product people are joining Walmart to help build out the company’s health and wellness products and services.
Walmart is not buying the CareZone pharmacy, which sorts customers’ medications into pill packs and delivers them to patients via mail.
Walmart rival Amazon acquired pharmacy delivery and medication management start-up PillPack in 2018 for $753 million and has focused since then on scaling the service.
Walmart offers a list of medicines that cost $4 or less through its prescription program and recently opened a set of Walmart Health primary care clinics in Georgia.
CareZone, which incorporates both the pharmacy and the technology, has raised more than $168 million to date and is backed by investors such as NEA and Salesforce founder Marc Benioff.
