How to get your business ready for the next big thing
Posted On July 17, 2021
By now, you’ve probably heard about Amazon’s plans to expand into the health-care sector.
Amazon has signed a deal to acquire a 49 per cent stake in Medscape, a startup that sells prescription drugs and health information, which is expected to be worth more than $2 billion.
Medscape’s CEO says the deal is a sign that Amazon is seriously considering medical-device delivery, and he says the company has no plans to scale up into the entire healthcare sector.
But the company’s expansion is only part of Amazon’s growing ambitions to expand beyond health.
Amazon is already in the business of manufacturing everything from laptops and tablets to robots and autonomous drones, and it is developing software that can help hospitals and other healthcare providers access information from their patients.
The company’s recent acquisition of Zoetis, a company that helps people in remote locations find care, is just one example of its growing interest in the health industry.
And Amazon has been quietly exploring a more ambitious strategy to grow its healthcare business.
As part of its expansion plans, the company is also reportedly looking to move into retail, hiring some of the most famous people in retail: the chief executive of Sears, which recently closed a $US20 billion deal to buy Whole Foods, and the CEO of Macy’s, who took the helm of the company a year ago.
So far, Amazon’s foray into healthcare hasn’t been the easiest.
It has been plagued by delays and cost overruns in its initial foray into the industry, and its medical-equipment sales are lagging behind competitors.
But as it works to move more patients to its own healthcare system, Amazon is investing heavily in technology that can speed up the delivery of healthcare goods and deliver the results quickly.
Amazon CEO Jeff Bezos has been a vocal advocate of technology that helps patients and providers.
He recently launched Amazon Web Services, a cloud-based service that lets companies provide services to customers faster and more accurately.
And he recently rolled out a new cloud-computing service that Amazon promises will be a major boon to the health sector.
And the company recently announced it will open a new, private cloud farm in Massachusetts to provide its cloud computing services to hospitals.
The health sector has been particularly receptive to Amazon’s efforts to help deliver healthcare goods.
The medical-tech company is building a $10 billion data center in Arizona to house its medical products and has partnered with local hospitals to build a new network of health-tech labs.
Amazon’s interest in healthcare may be partly tied to its strong position in the retail sector.
The online retailer is now the world’s third-largest seller of medical-tape, with about $US3 billion in sales per quarter, according to research firm Euromonitor International.
The rise of Amazon in the medical-technology space is partly driven by the fact that Amazon also sells its own health products, as well as those of its rivals.
The biggest obstacle for Amazon in building a health-technology business is the lack of technology in the healthcare industry.
Healthcare providers rely on third-party software and hardware to deliver care, and Amazon doesn’t have a large enough data center to house all of its products.
The other big hurdle is a lack of patient-centric software.
“We’ve done our homework and we know how to build these systems,” said David Schmitz, an executive at software and services provider HCL, which manages healthcare software and technology.
Amazon says it is building its own software to help hospitals improve their patient experience.
Amazon will use the software to deliver services from a single point of view, rather than in terms of delivery times or patient demographics.
It will also offer software that enables hospitals to provide more personalized care.
This approach, Amazon says, will help patients who are sicker or more complex to get better care faster.
“Our goal is to deliver quality, personalized care for people who need it,” Amazon said in a blog post.
But Amazon is not the only company trying to disrupt the health care sector.
Other big players are also developing healthcare-related technology.
Last month, the pharmaceutical company Pfizer unveiled a new mobile-device platform called Cloud Medic, which could eventually let doctors, nurses, pharmacists and other health professionals track patients using a smartphone app.
The platform will enable the delivery and management of medication to patients in real time, according the company.
The device will also allow patients to access prescriptions in a “one-stop shop” environment.
Pfizer is one of several companies that have been experimenting with the idea of using a medical-service-as-a-service (SaaS) model to sell its products and services to healthcare providers.
But some healthcare experts say it is too early to see the technology’s impact in the field.
In addition to the healthcare sector, Amazon also wants to compete in the online retail sector by making it easier for users to buy and sell medical products online.
Last year, Amazon bought Whole Foods for $US15 billion.
And last year, it partnered