Hyundai Motor Group is a world-renowned automotive company that pushes the boundaries of technology and innovation. The company diversified to a range of service lines, including robotics and autonomous driving technology.
Hyundai reported almost a 3.2+million unit sales worldwide in 2021, compared to 2.9+million units in 2020, representing a nearly 8.1% increase. This increased demand and volume is due primarily to Hyundai’s commitment to developing the next generation of motor vehicles. These vehicles boast great performance metrics and reflect the company’s overall mission to sustainability, affordability, and accessibility.
Hyundai has taken a bold step in its latest venture: it is now focusing on healthcare delivery. The latest move is a partnership with NowRx, a California-based pharmacy/prescription delivery and healthcare services company, to enable novel prescription delivery methods.
NowRx already has a strong presence in California. According to NowRx’s website, the service is simple: A prescription is sent to NowRx; the team confirms delivery and collects payment. The medication is delivered within hours. You can also arrange automatic delivery for future medication requirements. The service seems simple.
The startup is now able to expand its reach by partnering with Hyundai. Cary Breese is the CEO and co-founder of NowRx. He says: “Autonomous cars are part of our long-term strategic vision for NowRx to reduce delivery cost at scale. We can not think of the best company then [Hyundai] which has shown substantial leadership in autonomous vehicles and other robotics, automation, and robotics areas.”
Hyundai is also entering a previously untapped market. Minsung Kim (Vice President, Hyundai Motor Group) and Head of Open Innovation Strategy Team said: “The Group expects that this collaboration with NowRx will help expand our mobility model beyond the industry […]. We believe a new opportunity is available with the technologically advanced e-pharmacy NowRx. This uniquely integrates pharmacy delivery service and pharmacy management, supporting our move toward Smart Mobility Solutions Provider.”
The communities that could benefit most from this service are the biggest winners of this deal. This partnership and this concept are important. Accessing prescription medication and pharmacies on time can challenge millions of Americans. Access and transportation issues are not the only problems. For millions of elderly patients who require life-saving medicines, the inability to get to the pharmacy and lack of mobility are significant barriers to improving their health outcomes.
Many companies are trying to disrupt this market. Amazon is one example. It recently launched a prescription delivery system. This service promises “low prices on medications, free delivery, and pharmacists on call 24/7.” Walgreens offers a comparable service that provides same-day prescription delivery. Many startups are also trying to maximize this service for local communities.
It is certain that once the service is perfected, all parties will benefit significantly: it could be creating new business opportunities for established companies, expanding partnerships for startups, or providing a valuable and timely service for patients in their local communities.