Amazon has been eerily taking over many aspects of the retail and internet services industries, but some companies are pushing back. One of those companies that will refuse to go down without a fight is CVS pharmacy.
Amazon is looking to obtain pharmacy licenses in multiple states, leading speculators to believe that they will be competing with the country’s top pharmacies. As a retaliation, CVS had acquired Aetna, which may lead them to break out into the insurance side fo the medical industry.
On the other hand, pharmacy licenses may also be applied to the sale of medical equipment. In that case, it may be a false alarm that they will be selling medication but rather medical supplies through their e-commerce platform.
In whatever direction that this may lead, medical industry investors are sitting at the edge of their seats to see what unfolds. Any medically related announcements by Amazon is likely to have an impact on their stock prices, likely for the better.
Many legacy pharmacy providers are already pressed in this competitive market and closures or mergers are looming. CVS, on the other hand, is likely to expand their reach in America to remain a big player.
Think of the current market as an all-in-one solution to win the hearts of their consumer. Amazon is especially aggressive at customer ownership in the sense of having them locked in to buy all of their products through their outlets.
As CVS is known in the medical industry, they will be taking a similar approach but with medical specifics. It would be awfully convenient to pay your insurance bill in the same place you pick up your diabetes medications or cough syrup. It would not be surprising if they expand their online operations with other retail chains the following suit.
Who is Drew Madden?
Drew Madden may be at the forefront of this merger of the medical and IT industries since that is exactly what he specializes in. Taking a look at his online portfolio, Drew has maintained relationships with large medical software companies for years. His recent tenure was with Nordic Consulting Partners, which lasted for 6 years, had shown his ability to grow a startup into a multi-million dollar enterprise.