Amazon has officially revealed its intention to acquire One Medical, a primary care provider whose services incorporate in-person, digital, and virtual encounters.
The firms announced Thursday that Amazon is acquiring One Medical for $18 per share in an all-cash transaction valued at about $3.9 billion.
The agreement expands Amazon’s footprint in health care, which, according to Neil Lindsay, senior vice president of Amazon Health Services, is “high on the list of experiences that require innovation.”
Lindsay said in a statement that the e-commerce giant intends to enhance how customers make appointments and the experience of seeing a doctor.
One Medical went public in 2020, and Amazon has stated that it would pay $18 per share for the firm, for a total enterprise value of $3.9 billion. Amazon announced on July 21st that they would be acquiring One Medical for $18 per share in an all-cash transaction valued at about $3.9 billion.
One Medical went public in 2020, and Amazon has stated that it would pay $18 per share for the firm, for a total enterprise value of $3.9 billion.
The firm operates on a direct-to-consumer approach as well as by selling services through companies in their employee health plans. It presently has over 8,000 firms as B2B2C customers.
The firm, which was supported by Google and others during its initial period, has had its ups and downs. In 2021, we reported on a data leak at the organization that revealed hundreds of consumers’ email addresses.
Amazon’s shares rose almost 1% in early trade on Thursday.
Amazon showed a stronger interest in the health care market when it paid $750 million for PillPack in 2018, intending to use the acquisition to create its own online pharmacy years later.
Amazon has also expanded its telemedicine service, Amazon Care, and has pushed to create at-home medical diagnostics.