Walmart acquires some assets of CareZone

Walmart is acquiring technology and intellectual property from CareZone, a funded startup that makes it easier for people to manage multiple medications, organize health information, and access health services from their smartphones. According to CNBC, the deal is worth around $200 million.

CareZone, which counts around 3.5 million members, has developed a mobile app that helps individuals and families manage medicine and chronic illness for each member of the household. Families can use the app to scan labels or insurance cards to speed and simplify the process, and CareZone also helps members save on Medicare with insurance brokers licensed in all 50 states.

Aside from the assets, 25 to 30 engineering and product people from CareZone are joining Walmart to help build out the company’s health and wellness products and services.

“We’re also excited to welcome the members of CareZone’s product and technology team that built their app, and who will help us innovate and integrate faster with Walmart’s existing systems. The technology and team members joining Walmart will augment our current Health & Wellness capabilities and support our focus on digital health care solutions.” – Walmart.

“The goal of any technology startup is to build a product or experience that touches the lives of as many people as possible. Adding our technology platform to Walmart’s existing digital capabilities and physical reach creates a unique opportunity to redefine what the future of digital health and wellness can look like. The CareZone team members joining Walmart are excited to bring our knowledge and apply it to such a broad canvas.” – Walter Smith, co-founder and chief technology officer of CareZone.