Health care deals on a tear, here are the big ones
Health care deals have been on a tear in recent months, from megamergers between pharmacies and insurance companies to big tech companies teaming up with health care providers to reduce costs.
On Tuesday, Microsoft made big news when it announced a massive 7-year deal with Walgreens Boots Alliance in an effort to transform “health care delivery.”
However, on the flip side, retail giant Walmart announced on the same day that it has decided to leave its partnership with CVS Caremark because of a disagreement over reimbursement rates.
Still, despite that one exit, many companies have been announcing partnerships in recent months in an effort to make health care more accessible for Americans and cut costs.
CLICK HERE TO GET THE FOX BUSINESS APP
Here’s a look at some of the biggest over the last few months.
JANUARY 2019
Microsoft, Walgreens
Microsoft announced it has signed a multiyear partnership with Walgreens Boots Alliance. Under the terms of the agreement, Microsoft will become Walgreen’s main cloud provider, while the drugstore owner will migrate most of its infrastructure onto Microsoft Azure. Additionally, Walgreens said it plans to pilot up to 12 store-in-store “digital health corners” aimed at the merchandising and sale of select health care-related hardware and devices.
Eli Lilly, Loxo Oncology
Drugmaker Eli Lilly announced plans to buy Loxo Oncology for about $8 billion.
Bristol-Myers Squibb, Celgene
Cancer drug giant Bristol-Myers Squibb also announced that it is buying biotech company Celgene, which develops treatments for cancer and inflammatory diseases, in a deal valued at $74 billion.
NOVEMBER 2018
CVS, Aetna
CVS announced that its $69 billion merger with health insurance giant Aetna has been finalized. The acquisition of Aetna is expected to give CVS, the nation’s largest retail pharmacy, better leverage in pricing discussions in the long-term. Additionally, CVS said that its patients will also have better access to more services though CVS Health’s MinuteClinics.
JUNE 2018
Amazon, PillPack
Amazon announced it's buying online pharmacy PillPack for roughly $1 billion in cash. The deal gives the e-commerce giant the ability to ship prescriptions around the country.