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healthcare | IST

Amazon, Apollo Hospitals in talks for pharmacy business partnership

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According to sources, Amazon, the largest giant globally in the online space, is looking at a partnership with Apollo Hospital Enterprises’ pharmacy business, Apollo HealthCo, which is being created with online and offline business verticals of the group.

Apollo Hospital's retail chain Apollo Pharmacy is making big moves to expand its online sales and also working towards being a dominant omnichannel player.
Amazon, the largest giant globally in the online space, is looking at a partnership with Apollo Hospital Enterprises’ pharmacy business, Apollo HealthCo, which is being created with online and offline business verticals of the group.
This will be a very fitting combination to enhance the online presence of Apollo Hospital’s pharmacy business with Amazon coming in and on the other hand for Amazon, there will be an offline presence as well. So an omnichannel approach is what they are looking at.
It is not clear whether or not Amazon is immediately going to pick up stake in the company but Apollo Hospitals has been in talks with several investors for selling a minority stake of upto 20 percent for raising at least USD 500 million in Apollo HealthCo and most of the investors have shared that they will be backing and looking at the contours of the partnership with Amazon and will bet their money if Amazon comes in as a partner.
It is understood that USD 2.5-3 billion is the pre-money equity valuation that the company is looking at.
Watch the accompanying video of CNBC-TV18’s Nisha Poddar for exclusive details.