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Echo, the U.K. startup that offers an app to help you manage your medication and order repeat prescriptions for delivery, has been acquired by healthcare company McKesson, owner of LloydsPharmacy.
Terms of the deal remain undisclosed. However, I understand the buyout sees all of Echo’s existing investors exit, with McKesson becoming the majority shareholder and the remaining shares divided amongst Echo management and other staff. Echo was backed by White Star Capital, MMC Ventures, Rocket Innternet’s GFC, Hambro Perks, Public.io, and LocalGlobe.
Echo - Sai - Lakshmi - Biz - Dev
Echo was founded in 2015 by Sai Lakshmi, who previously worked in biz dev for Apple, and Stephen Bourke, who (notably) was previously a manager at Lloyds Pharmacy’s online doctor service. Lakshmi stepped down as CEO of Echo in August last year and was subsequently replaced by ex-HelloFresh International COO Roger Hassan.
The Echo app for iOS and Android lets you order NHS prescriptions and get your medication delivered to your door. You simply tell the app the name of your GP and what repeat medication you take, which can be input using your phone’s camera and with the help of Echo’s NLP tech.
App - Medicine - Prescription - Instruction - Echo
The app also alerts you when you need to take your medicine and when you are running low. When a new prescription is required, under your instruction Echo will send the appropriate request to your doctor and nominate a pharmacy partner on your behalf. Once approved by your GP, your medicine is dispatched by 2nd class post and you pay the standard NHS charge if applicable.
All of this is enabled by the way echo has deeply integrated with the NHS Electronic Prescription Service (EPS), meaning that it works with existing GP NHS England practice systems and tech, and doesn’t require extra work on the GP surgery’s part. The idea is to make medication management, especially for people who...
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