The alliance between two or more unrelated business organizations has been pushing the market to the next level by supporting each other. Currently, Amazon has been expanding its business into different markets at global level comprising its e-commerce business, cloud computing, and healthcare also. Amazon is frightening above mentioned markets-based players to tie up for future survival.
Recently, Walgreens—a drug store chain—has announced its collaboration with Microsoft for a seven-year contract that involves thorough investigation related to the expectations of providing digital health services within stores and maintaining patient engagement by developing software. Such collaborations could strongly influence the overall market growth as per the consumers-demand.
Previous month only, Walgreens finalized a deal with a life science company, Verily. The contract involves handling the projects related to guiding people to have their medicines. In the mid of 2018, Amazon acquired the online pharmaceutical company, PillPackin for $1 Billion. After this acquisition, other pharmaceutical industries including Walgreens have been paying attention to Amazon. During the past year, Amazon shares have efficiently surged by 28 percent.
Looking over the last year’s performance of pharmaceutical industries, Walgreen and CVS; the shares have plunged by 5.6 percent and 19 percent, respectively. To survive and expand the market capitalization, both the industries have begun to renovate their physical stores for the addition of upgraded health services in response to grab the majority of customers.
Under the Microsoft-Walgreen collaboration, more than 380,000 Walgreen’s employees are subscribing for its Microsoft 365 cloud apps and will transfer its workloads to the Azure cloud service.
Healthcare market has been expanding to a larger extent, though it is strictly regulated and insulated. Alphabet and Microsoft have been entering into the healthcare market by recruiting the advisors and industry specialists.
Business expansion in the complicated health sector by such tech companies could be tough and require a team of specialists for the same, stated by the CEO of Walgreens CEO, Stefano Pessina.