Amazon announced Thursday it will acquire the primary care organization One Medical in a deal valued roughly at $3.9 billion, marking another expansion for the retailer into health care services.
The Seattle-based e-commerce giant said in a statement it will acquire One Medical for $18 per share in an all-cash transaction. It marks one of Amazon’s biggest acquisitions, following its $13.7 billion deal to buy Whole Foods in 2017 and its $8.5 billion purchase of Hollywood studio MGM, which closed earlier this year.
One Medical, whose parent company is the San-Francisco based 1Life Healthcare, Inc., is a membership-based service that offers patients in-person and virtual doctor visits. As of this March, it had about 767,00 members and 188 medical offices in 25 markets, according to its first-quarter earnings report, which also showed the company had incurred a net losses of $90.9 million after pulling in $254.1 million in revenue.
Neil Lindsay, the senior vice president of Amazon Health Services, said in a statement the acquisition is geared towards reinventing the healthcare “experience” for things like booking an appointment and taking trips to the pharmacy.
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Amazon to buy primary health care provider for $3.9B https://t.co/HOgqQIyiDv pic.twitter.com/cEujKV1BBX
— The Hill (@thehill) July 21, 2022
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