Apple follows Amazon into healthcare space
Apple is reportedly preparing to launch a group of medical clinics for its employees and their families called AC Wellness in California, in what is being seen by many as a precursor to a full scale entrance into the healthcare sector. The news comes off the back of Amazon's move into healthcare as part of its ambitions to steal market share from big pharma companies, as well as a tie up between itself, Warren Buffet's Berkshire Hathaway and JPMorgan Chase. The 3 firms unveiled an as-yet unnamed company last month dedicated to providing healthcare for the 840,000 people who work for them. Today's news concerning Apple will come as no big surprise given that Tim Cook already described the healthcare industry as an area where the firm could make a "significant contribution" at Apple's annual shareholder meeting earlier this month.
Besides philanthropic ambitions, Apple will be hoping to reap major profits from healthcare too. As a percentage of GDP, healthcare growth is set to rise by 4.3 per cent in the U.S. through 2020 according to a report from Deloitte, while America already devotes more of its economy to healthcare spending than any other country on earth.
Via: https://invstr.com/