Nimble Pharmacy is one of the emerging companies. The company is funded by venture investors including Khosla ventures and Sequoia. The company had the aim to deliver prescribed drugs formed in their pharmacies to the client offices and homes. But Nimble got into the need of finding a new business when Amazon bought online PillPack of pharmacy in the year 2018.
Before this year, Nimble closed its six pharmacy locations that were located over the Bay Area and removed half of its staff. The company laid off 40 employees for focusing on the delivery service development which will be in partnership with independent pharmacies. Nimble is planning to become like an Instacart, for using grocery analogy at the place of becoming a supermarket.
The pharmacies which have big chains like Walgreens and CVS are also trying to get into delivery services. Amazon is going to invest a heavy amount in PillPack, along with the acquisition of $753 million so that the consumers can receive all details of medicines through the mail, including full-time customer support and automatic refills, which leaves independent pharmacies into a vulnerable position.
Talha Sattar, the CEO of Nimble said that they have recognized the changes occurring in the world and they have observed the acceleration in services from PillPack owned by Amazon and delivery options launched by CVS and Walgreens.
Nimble was founded in the year 2014 and raised up to $60 million through investors like Khosla Ventures and Sequoia. The company represented itself as full service providing pharmacy by taking out the hassle experienced in pharmacy. But the CEO of Nimble, Sattar said that it was very difficult to bring doctors over the board because the operating process of physical pharmacies was highly expensive.
Nimble changed its direction of attention to 20,000 pharmacies of the country which are independent. Sattar has started focusing on these pharmacies and he has already signed over 600 pharmacies and reached a lot of customers.