E-commerce giant Amazon is acquiring healthcare company One Medical, both companies announced on Thursday. The deal which is an all-cash deal will see Amazon acquire One Medical for $18 per share which values the healthcare provider at approximately $3.9 billion.
Once completed, the deal will strengthen Amazon’s presence in the health care space. According to the company’s Senior Vice President of Amazon Health Services Neil Lindsay, the company’s presence in health care is “high on the list of experiences that need reinvention.”
Amazon first made its foothold in healthcare when it acquired online pharmacy PillPack for $750 million in 2018. The company also has a telehealth service called Amazon Care. The company has been looking to expand its foothold in the health space and has been looking to develop at-home medical diagnostics.
In his statement, Neil Lindsay said that Amazon wants to improve how patients book appointments as well as the general experience of seeing medical personnel. “We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years,” he said.
One Medical touts itself as a healthcare company charged with the onus of providing the best primary care through exceptional quality. The company operates a network of primary care practices while offering telemedicine services. The healthcare provider went public in 2020 and currently has 188 medical offices in 25 markets.
In a statement, Amir Dan Rubin, One Medical’s CEO said that “There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers.” The CEO will continue to run One Medical under Amazon’s ownership once the deal is completed.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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