Walmart Inc (NYSE:WMT) has moved into a deal to a new deal to acquire telehealth supplier MeMD. The company struck the deal on Thursday, outlining its plan to focus on providing digital well-being care providers on a nationwide scale. Walmart didn’t disclose the transaction’s financial details.
Amazon may consider Walmart’s move as an emulation of its business model. The retailer’s cloud computing and advertising businesses continue staging outstanding performance. Proceeds from the segment continue to empower Amazon, helping it beat online competitors to provide home delivery services. The company admits that it doesn’t fetch high profits from such dealings.
Analysts consider the MeMD acquisition to be a start-point for a new competition between the two companies. Amazon had recently spoken regarding the introduction of Amazon Care, hoping that the telehealth service would help serve about one million employees in the U.S. this summer. The company’s employees in Washington have already started enjoying the Amazon Care services, with plans underway to serve more employees in other sections.
The healthcare sector’s dynamics
Both Amazon and Walmart have massive workforces and have, over the years, paid for their healthcare. The two learned their lessons and are turning their focus to serving clients with trusted healthcare providers. The U.S. healthcare market continues to witness significant growth, and the two companies say they will recommend the best treatment joints to clients.
A large section of the world’s leading corporations express a deep interest in healthcare and seek to make some impressive and progressive changes to favor patients. These corporations look forward to a future where healthcare provision becomes more affordable.
MeMD was unveiled back in 2012 and has achieved a lot over the years in delivering digital healthcare services to U.S. citizens. It has been operating around the clock every day. Walmart projects that the deal might come to a close in a few months to come. MeMD has been operating on a nationwide scale, managing to serve about 5 million people.