The Warehouse is branching out into the health sector, taking a cornerstone stake in ZOOM Health, which is a start up health technology company and shareholder in ZOOM Care, an online pharmacy that processes and delivers prescriptions to patients' doors.
Warehouse chief executive Nick Grayston said it has been looking for way to build on its brand strength, store network and customer base.
He said the investment fits with its current retail business and make use of its expertise in online retail and distribution.
"The Warehouse Group has been working on building a customer ecosystem that leverages our brand strength, store network and customer base.
"We firmly believe that the investment in such a promising digital health company complements our existing offer and our expertise in online retail and distribution.
"It also aligns well with our purpose of helping Kiwis live better every day," Grayston said.
He said the investment will result in additional capital for ZOOM for dispensing infrastructure, distribution centres, software development and further investment in its people.
ZOOM Health managing director David Taylor said The Warehouse's investment will allow the company to expand the use of its pharmacy services to significantly more New Zealanders.
ZOOM Health managing director David Taylor Photo: Supplied
He said both companies have a shared vision for helping improve access to affordable healthcare.
"We know that around half a million New Zealanders are not currently enrolled with a GP. Many more Kiwis may be enrolled but have poor access to GP and traditional pharmacy services. The reality is that healthcare has been failing many New Zealanders for years.
"Our new partnership with The Warehouse will provide us with the opportunity to bring an advanced, affordable healthcare solution to potentially millions more Kiwis," he said.
