Amazon Makes Another Big Move Into Healthcare
Amazon.com (NASDAQ: AMZN) is always looking for ways to innovate and achieve incremental growth, and the company has shown it isn't afraid to disrupt other industries to do so.
Focusing on sectors outside e-commerce not only adds diversification but makes the stock a safer long-term buy. Healthcare, in particular, is a significant opportunity for technological advancements, and it's one area where Amazon could become a significant player in the years to come.
Amazon made a big splash last year when it announced it was purchasing online pharmacy PillPack for $753 million. That's chump change for Amazon, a company with more than $23 billion in cash and cash equivalents on its books, as of its most recent earnings. But it's an investment that could unlock significant opportunities. With an aging U.S. population, more patients are looking for convenient ways to access their medication. PillPack will sort medication for patients and put them into individual packets. The company also assists with refills and will deliver the medication every month, right to a patient's door.
Source Fool.com
