Paulus Said to Agree to Acquire SoftBank-Backed Alto Pharmacy

Alto Pharmacy, a digital pharmaceutical startup based in San Francisco that’s backed by SoftBank Group Corp., agreed to be acquired by Paulus Holdings Ltd., according to people with knowledge of the matter.

A transaction is set to value Alto at $1 billion to $1.5 billion, said some of the people, all of whom asked not to be identified discussing confidential information.

“We continually explore opportunities to further our goal of helping health-care partners improve patient care, experiences and health outcomes,” a Paulus Holdings spokesperson said, declining to comment further.

SoftBank declined to comment. An Alto representative didn’t ...