Ocado Group, the cool tech company, just made a big announcement! They’re teaming up with McKesson Canada to bring their super cool tech to the healthcare distribution and logistics sector. This is a big deal because Ocado is known for their awesome warehouse technology, and now they’re taking it beyond just groceries. McKesson Canada, which is a big shot in the healthcare world, will be using Ocado’s tech to make their supply chains super efficient.
Tim Steiner, the big boss at Ocado, said, “This is a major milestone for us as we take our amazing technology into the healthcare sector. Our tech is perfect for supply chains that need top-notch inventory management and secure stock control. We’ve been doing this for 20 years in the online grocery world, and now we’re ready to rock the healthcare world in Canada.”
As for the money stuff, Ocado will be getting paid upfront and will also receive an annual fee for maintaining the tech. This deal won’t have a big impact on their cash flow and earnings this year, but it’s gonna be a cash and profit win in FY25 when everything’s up and running.
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