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Costco Wholesale is partnering with a startup to provide various medical care options to the retailer’s members.
Sesame, the company Costco is partnering with, announced the partnership on Monday. Under this agreement, the startup will offer “special discount pricing” on services listed on its online healthcare marketplace, according to the press release.
At the end of May, Costco announced that the total number of cardholders was around 124.7 million.
A Costco store is seen on September 23, 2022 in Monterey Park, California. (Eric Thayer/Getty Images / Getty Images)
Sesame’s marketplace features “family physicians and nurse practitioners, more than 40 health specialties, laboratories and imaging centers, and includes both virtual and in-person care,” the company said.
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Sesame says the deal is available to Costco members nationwide.
Virtual primary care, health checks and virtual mental health therapy are among the services Costco members can find on the platform. The company sets the respective prices at $29, $72 and $79. According to Sesame, the health check includes a “standard laboratory panel as well as a virtual follow-up consultation with a provider.”
A man receives an injection in the doctor’s office. (iStock)
The company, which does not provide insurance, will also provide a 10% discount on all other medical services offered through its platform, Sesame said.
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With its marketplace, Sesame says it wants to replace “historically inefficient and expensive healthcare with a direct connection… between patients and doctors.” This enables users to get significantly cheaper prices for healthcare services, according to the company.
| ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 558.62 | +0.03 | +0.01% |
Groups including GV, billionaire Richard Branson’s Virgin Group and General Catalyst have poured money into Sesame, the startup previously said. GV stands for Google Ventures.
The Sesame partnership announcement comes ahead of Costco’s release of fourth-quarter financial results on Tuesday.
At the end of May, Costco announced that the total number of cardholders was around 124.7 million. (iStock / iStock)
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In the third quarter, the company reported revenue of nearly $53.65 billion, including $1.04 billion from membership fees and $52.6 billion from net sales. This represented an increase of 2% compared to the previous year.
Meanwhile, quarterly net income was $1.3 billion.