Amazon’s move to acquire digital pharmacy startup PillPack for a reported $1 billion marked its entrance into the online pharmacy space.
Analysts at Bernstein estimated that 50 to 70% of prescriptions could shift online, and that Walmart, CVS and Walgreens could try to acquire their own digital pharmacy startups.
Here are 10 emerging online pharmacies and related companies that could be the next targets, according to Bernstein.
Capsule is a New York City-based online pharmacy founded in 2015 by Eric Kinariwala, who Business Insider profiled as part of the 30 under 40 health-tech leaders to watch.
The New York City-based company offers delivery services for prescriptions throughout the city and its five boroughs. Prescriptions are meant to be delivered within two hours, and through the app, customers can chat or text with a pharmacist for advice about their medication. Every part of the pharmacy interaction is done digitally, and you can even chat with pharmacists on its app.
The company has raised $20 million in venture capital funding.
Bernstein analysts say that its local market and user experience focus are its key features.
GoodRx is a startup that lists drug prices and sells prescription drugs at discounted rates. It was founded in 2011 by Doug Hirsch, Scott Marlette and Trevor Bezdek. Users can also compare the prices of drugs across different pharmacies close to them.
The company generates revenue through its relationship with pharmacies and pharmacy benefit management when customers use their coupons. It is reportedly on course to generate earnings of $100 million this year.
GoodRx is rumored to be speaking with companies, including health distribution giant McKesson, about being acquired for at least $1.5 billion.
Bernstein analysts say that its price transparency and consumer engagement tools are its key features.
MedAvail, based in Canada, stations physical kiosks called MedCenter at different locations. Each kiosk is connected with a home pharmacy and can stock up to 500 over-the-counter drugs.
MedAvail also analyzes prescribing patterns to determine best stocking strategy and offer tele-consultation with pharmacists.
In June, it announced a collaboration with Express Scripts to bring the convenience of an ATM to pharmacy. Its pilot program will station machines in Phoenix and Tuscon, Arizona, with plans to expand to more states by the end of 2018.
Bernstein analysts think its potential to be deployed in physician practices and medical buildings is its key feature.