Daily Traders Edge

Hospital supplier shares dive as Amazon reportedly ramping up medical supply business

February 13
09:49 2018

Amazon is gearing up to launch a larger offering in the medical supplies business, the Wall Street Journal reported on Tuesday.

The revamped service will serve hospitals and clinics. The e-commerce giant is looking to expand its Amazon Business marketplace to serve the health-care industry, according to hospital executives the WSJ said. Amazon Business already has a smaller offering of medical supplies.

Shares of health-care supplier and services companies McKessonCardinal Health and Owens & Minor are all lower more than 3 percent Tuesday.

The disruptive internet company made another move affecting the health-care industry last month.

Amazon, Berkshire Hathaway and J.P. Morgan Chase announced a partnership on Jan. 30 to cut health costs and improve services for employees.

Amazon, McKesson and Owens & Minor did not immediately respond to requests for comment.

Continue Reading at CNBC

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