A sign for the pharmacy is posted at a soon to be opened Wal-Mart store September 21, 2006 in … [+]
2006 Getty Images
Walmart has purchased CareZone’s prescription management technology and related patents as the retailer and rival pharmacies take more steps into the digitization of healthcare and prescriptions.
Walmart, which operates hundreds of pharmacies, is competing with the likes of CVS Health, which owns the drug benefit manager Caremark, and Walgreens Boots Alliances, which is investing billions of dollars into partnerships and new technology systems. Meanwhile, Amazon is stepping up its effort into prescription management and drug delivery following its purchase of the online pharmacy PillPack.
“CareZone has developed a mobile app that helps individuals and families manage medicine and chronic illness for each member of the household,” Walmart said in a blog post Monday afternoon announcing the deal. “Families can use the app to scan labels or insurance cards to speed and simplify the process.”
Walmart said it has acquired “specific assets” that include CareZone’s technology platform, patents and key intellectual property, which help patients better organize their prescription information.
“The goal of any technology startup is to build a product or experience that touches the lives of as many people as possible,” said Walter Smith, co-founder and chief technology officer of CareZone. “Adding our technology platform to Walmart’s existing digital capabilities and physical reach creates a unique opportunity to redefine what the future of digital health and wellness can look like. The CareZone team members joining Walmart are excited to bring our knowledge and apply it to such a broad canvas.”