Sun Life invests in virtual pharmacy Pillway to make it easier for Canadians to live healthier
Pillway provides convenient virtual access to a pharmacist with medications delivered to your door
TORONTO, Nov. 28, 2023 /CNW/ - Today, Sun Life is pleased to announce a minority investment of $9.5 million in Simpill Health Group Inc., operating as Pillway, with an opportunity to invest up to an additional $1.5 million. Pillway's online pharmacy expands upon Sun Life's digital health services and offerings. Sun Life and its health business are committed to helping Canadians navigate, access, receive and integrate care.
"With over 50% of Canadians taking at least one prescription drug a month1, access to medications and pharmacy care is critical. For those caring for their loved ones, helping with medication management and adherence is equally as important," said Dave Jones, President, Sun Life Health. "As one of the largest private payers of prescription medication in Canada, we know first-hand how important it is that people receive their medication and take it correctly. The team at Pillway has the pharmacy expertise and services to help Canadians, regardless of where they are in their health journey."
In June 2023, Sun Life launched the Lumino Health™ Pharmacy app, with the technology platform and pharmacy services provided by Pillway. This service was rolled out to Sun Life Group Benefits Clients in Canada. Through the convenience of an app, Pillway's services include:
Access to connect with a live pharmacist by chat or a phone call.
Medications delivered directly in Canada. For many, medicines will arrive the same or next business day.
Personalized pre-packaging to help you take the right medications at the right time.
Ability to track usage, manage refills and receive important notifications directly through the app.
"Pillway and Sun Life share a mutual passion for helping Canadians with their health. Today's announcement is a testament to our ongoing commitment to easy-to-use and high-quality pharmacy care," said Lak Gill, Chief Executive Officer, Pillway. "We are excited to have Sun Life as a strategic partner, and together, continue to grow."
This investment is just one of the many ways Sun Life is focusing on the health and well-being of Canadians and working to help bridge the health care gap. It builds on the momentum established by our acquisition of Dialogue, Canada's premier health and wellness virtual care platform. Sun Life has been offering Dialogue's services in Canada since March 2020 and Dialogue recently expanded into the U.S.
As a sustainability-driven organization, we strive to positively impact health and wellness outcomes for all. Learn more about Sun Life's sustainability efforts here.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2023, Sun Life had total assets under management of $1.34 trillion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars.
About Pillway
Pillway, a pioneering tech-first, full-service digital pharmacy, is revolutionizing today's traditional pharmacy model through the thoughtful use of technology. With a specialized focus on chronic disease management and individuals managing multiple medications per day, Pillway offers best-in-class service for all prescription medication needs. Pillway's connected platform seamlessly integrates doctors, pharmacists, and patients, providing a truly holistic healthcare experience that forms a full circle of care. Pillway's dedicated pharmacy care team proactively manages each patient throughout their entire healthcare journey, removing all guesswork from medication management. Pillway delivers comprehensive end-to-end vertical integration across all pharmacy services, ensuring an unmatched and innovative healthcare experience for patients, pharmacists, and healthcare providers.
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Media Relations Contact:
Gannon Loftus
Director, Corporate Communications
Sun Life
T. 647-228-8244
gannon.loftus@sunlife.com
Investor Relations Contact:
David Garg
Senior Vice-President
Capital Management and Investor Relations
Sun Life
T. 416-408-8649
david.garg@sunlife.com
Jas Binning
Director, Marketing
Pillway
T. 416-901-1227 ext. 207
jbinning@pillway.com
SOURCE Sun Life Financial Inc.
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