Apple and the Microsoft Corporation have joined forces to buy a controlling stake in an online pharmacy company.
The deal, which was first reported by the Wall Street Journal, was announced Tuesday by Apple and its top executives in an investor conference call.
Apple has long been interested in the emerging health technology space and is working to bring its software tools and services to the industry.
The buyout is expected to close in the first half of 2020.
Apple also has a significant stake in Nuance, a software development and marketing firm.
Apple CEO Tim Cook said Tuesday that the company will continue to focus on the “big picture,” which is to “make it as easy as possible for people to buy and sell health information.”
“The company has a lot of interests in the industry, but at the same time, we also believe that health is really a big thing for people,” Cook said.
“We believe the best way to help people understand the importance of their health and the importance they have in their lives is to have more and better tools that people can access.”
“We think this is the best opportunity to bring these things together,” he added.