Soon, you can open the Amazon app to find a solution to your health problems!
Amazon recently announced that it has entered into a $ 3.9 billion deal to purchase One Medical, one of the primary care clinics networks.
Amazon will acquire at $18 per share in an all-cash transaction, including One Medical's net debt. Completion of the transaction is subject to closing conditions, including approval by One Medical's shareholders and regulatory approval. Upon completion, Amir Dan Rubin will remain CEO of One Medical.
After a failed IPO, the company's value fell below the IPO price, making the acquisition by Amazon more attractive.
One Medical is a US-based, human-centered, technology-powered primary care organization with a mission to make quality healthcare more affordable, accessible, and enjoyable through a perfect combination of in-person care services, digital and virtual.
1Life Healthcare, Inc. is an administrative and management services company. 1Life and the One Medical entities operate under the "One Medical" brand.
One Medical is a subscription-based primary care practice with nearly 200 locations nationwide that also offers virtual services. The company had approximately 7.67,000 patients in May.
One Medical isn't the first healthcare company Amazon has acquired. In 2018, it acquired PillPack, an online pharmacy for $ 753 million in 2018, and launched Amazon Pharmacy in 2020 as a prescription and delivery service.
Amazon is investing heavily in healthcare and wants to become a major healthcare company, however, the problem is how it integrates healthcare with its other businesses and starts cross-selling. This will raise issues related to health data and privacy legislation.
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