Amazon to Buy One Medical

Amazon to Buy One Medical
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Amazon and One Medical have announced that they have entered into a merger agreement under which Amazon will acquire One Medical. 

One Medical was founded in 2007. It is a human-centred, technology-powered primary care organisation committed to making quality care more affordable and accessible for patients through a combination of in-person, digital and virtual care services. 

Amazon will acquire One Medical for $18 per share in an all-cash transaction valued at approximately $3.9 billion. The merger is subject to approval from One Medical's shareholders and regulatory authorities. If approved, One Medical will give Amazon 188 medical offices. 

One Medical is a membership-based primary care service that offers 24/7 access to virtual care. It operates in several major U.S. markets and works with more than 8,000 companies to offer One Medical health benefits to their employees.

According to Neil Lindsay, SVP of Amazon Health Services, healthcare is an experience that needs reinvention. This goal will be facilitated together with One Medical's technology-powered approach to healthcare. 

Amir Dan Rubin, the CEO of One Medical, believes combining One-Health's technology and team with Amazon's history of reinvention and customer service provides the ideal opportunity to transform healthcare and improve outcomes. Amir Dan Rubin will remain the CEO of One Medical after the merger. 

The One Medical acquisition would be one of the largest in Amazon's history and would give Amazon access to physical health clinics and payor and hospital system relationships.

Source: Amazon, Reuters, CNN
Image Credit: Wikimedia Commons

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Published on : Fri, 22 Jul 2022

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