Amazon contemplating USD 100 million funding in Apollo Pharmacy: Report

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Amazon contemplating $100 million funding in Apollo Pharmacy

American multinational Amazon is planning to enterprise in to India’s fast-growing drug market. According to a report in The Economic Times, the corporate is contemplating investing in Apollo Pharmacy. The report mentioned that Amazon is mulling an almost USD 100 million funding in Apollo Pharmacy.

Notably, Amazon already delivers medicines in India and its growth might give rise to competitors available in the market the place Reliance Industries Ltd and Tata Group have already a sizeable presence. While Mukesh Ambani’s Reliance just lately purchased a majority stake in on-line pharmacy Netmeds, reviews recommend that Tata Group is in talks to select up a majority stake in e-pharmacy agency 1mg.

Apollo Pharmacy is part of Apollo Hospitals. Considered certainly one of Asia’s largest healthcare teams, it has over 3,000 plus shops alone in India.

Meanwhile, Amazon’s Amazon Web Services (AWS) has launched Amazon HealthLake, a brand new service to allow healthcare organisations to retailer, remodel, and analyse all of their knowledge within the cloud. Amazon HealthLake aggregates an organisation’s full knowledge throughout varied silos and disparate codecs right into a centralised AWS knowledge lake and mechanically normalises this data utilizing machine studying, the corporate mentioned the AWS re:Invent convention on Tuesday.

The service makes it simpler for purchasers to question, carry out analytics, and run machine studying to derive significant worth from the newly normalized knowledge.

Organisations comparable to healthcare techniques, pharmaceutical corporations, medical researchers, well being insurers, and extra can use Amazon HealthLake to assist spot traits and anomalies in well being knowledge.

This might help them make far more exact predictions in regards to the development of a illness, the efficacy of medical trials, the accuracy of insurance coverage premiums, and lots of different functions, AWS mentioned.

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