Hyundai Motor Group is a world renowned automobile company, known for pushing the bounds of technology and innovation. The company has diversified into a variety of different service lines, including robotics, autonomous driving technology, data analytics, and manufacturing capabilities, to name a few.
In 2021 alone, Hyundai reported nearly 3.2+ million unit sales globally, up from 2.9+ million units in 2020— indicating a nearly 8.1% jump. Much of this increased demand and sales volumes are due to the company’s commitment to creating the next generation of advanced motor vehicles, which boast not only incredible performance metrics, but also pay homage to the company’s overall mission towards sustainability, affordability, and accessibility.
Now, in its latest venture, Hyundai is taking somewhat of an unprecedented step for a traditional car company: delving into healthcare delivery. Its latest move is a partnership with NowRx, a California based pharmacy/prescription delivery and healthcare services company, to enable novel prescription delivery methods.
NowRx has already established a significant presence in California. The service is straightforward, per the company’s site: a prescription is sent to the NowRx team; the team then confirms delivery and collects payment; the medication is delivered within hours; and automatic delivery for future medication needs can be easily arranged. Indeed, the service is seemingly convenient and hassle-free.
Now, in conjunction with Hyundai, the startup can expand its horizons. In a press release, Cary Breese, CEO and Co-Founder of NowRx discusses: “Autonomous vehicles are part of our long-term strategic vision for NowRx to further reduce delivery costs at scale […] We can’t imagine a better company to work with than [Hyundai], which has demonstrated substantial leadership in the autonomous vehicle, and other robotics and automation areas.”
Congruently, Hyundai is venturing into a new, previously untapped market. Minsung Kim, Vice President of Hyundai Motor Group and Head of the Open Innovation Strategy Team explained: “The Group expects this collaboration with NowRx to help expand our mobility business model beyond the anticipated industry […] We believe a new opportunity with the technologically innovative e-pharmacy NowRx, that uniquely integrates pharmacy management and delivery service, supports our movement toward Smart Mobility Solutions Provider.”
However, the most obvious winners in this deal are the communities that may benefit from this service. Why is this partnership and concept important? Because for millions of Americans, accessing pharmacies and getting prescription medications on time is not an easy feat. Not only are there significant transportation and access issues, but for millions of geriatric patients that require life-saving medications, lack of mobility and inability to actually get to the pharmacy is an unparalleled prohibitive barrier to improving health outcomes.
This is why so many companies are attempting to disrupt this space. Take for example Amazon, which recently launched its own prescription delivery service, promising “low prices on medication, free delivery, and pharmacists on-call 24/7.” Walgreens also offers a similar service, providing same day prescription delivery. Numerous startups are also crowding this arena, hoping to optimize this service for communities nationwide.
Undoubtedly, once this service is perfected, all parties stand to gain significantly: whether it be the creation of new business opportunities for established players, expanding partnerships for the startups involved, or the provision of an extremely timely and valuable service for patients in communities nationwide, the concept stands to become a positive addition to the healthcare space.