Sun Life has announced a minority investment of $9.5 million in Simpill Health Group Inc., which operates under the brand Pillway.
The move allows Pillway’s online pharmacy to expand upon Sun Life’s digital health services, according to a news release from the insurer. There is also an opportunity to expand the investment by an additional $1.5 million, fortifying Sun Life’s commitment to helping Canadians receive better access to integrated care.
Dave Jones, president of Sun Life Health, emphasized the critical role of easy access to medications and pharmacy care, particularly as more than 50% of Canadians take at least one prescription drug monthly, according to Statistics Canada.
“For those caring for their loved ones, helping with medication management and adherence is equally as important,” Jones said in the release.
“As one of the largest private payers of prescription medication in Canada, we know first-hand how important it is that people receive their medication and take it correctly. The team at Pillway has the pharmacy expertise and services to help Canadians, regardless of where they are in their health journey.”
Pillway CEO Lak Gill expressed excitement about the collaboration.
“Pillway and Sun Life share a mutual passion for helping Canadians with their health,” said Gill. “Today's announcement is a testament to our ongoing commitment to easy-to-use and high-quality pharmacy care. We are excited to have Sun Life as a strategic partner and continue to grow together.”
Sun Life introduced the Lumino Health Pharmacy app, powered by Pillway’s technology platform and pharmacy services, earlier this year.
Initially available to Sun Life group benefit clients, the digital platform offers a range of user-friendly features, including the ability to connect with a live pharmacist via chat or phone call, prompt medication deliveries within Canada, personalized pre-packaging for optimized usage, and comprehensive tracking and refill management through the app.
Sun Life’s infusion of $9.5 million into Pillway follows its recent acquisition of Dialogue, a health and wellness virtual care platform.
What are your thoughts on this story? Feel free to comment below.