Amazon to purchase main health-care company One Medical for approximately $3.9 billion

Amazon to buy primary health-care provider One Medical for roughly $3.9 billion

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Dr Stephanie Long (right), MD, of One Medical Group takes the high blood pressure of Danielle Greene (left), who is 20 weeks pregnant, throughout a prenatal consultation on Thursday, February 4, 2016 in San Francisco, Calif.

Lea Suzuki|San Francisco Chronicle|Getty Images

Amazon is getting One Medical for $18 a share, an all-cash offer that values the main health-care company at approximately $3.9 billion, the business stated Thursday.

The offer deepens Amazon’s existence in healthcare, which Neil Lindsay, senior vice president of Amazon Health Services, stated is “high on the list of experiences that need reinvention.”

The e-commerce huge want to enhance how individuals book consultations and the experience of being seen by a doctor, Lindsay stated in a declaration.

“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 stated.

One Medical, which went public in 2020, runs a network of shop primary-care practices, and likewise provides a variety of telemedicine services.

It has actually grown to manage 188 medical workplaces in 25 markets, and counts 767,000 members, according to its most current quarterly outcomes. One Medical reported a bottom line of $909 million on earnings of $2541 million in the very first quarter.

“There is an immense opportunity to make the health care experience more accessible, affordable and even enjoyable for patients, providers, and payers,” One Medical CEO Amir Dan Rubin stated in a declaration.

Once the offer closes, Rubin will continue to run One Medical.

Shares of 1Life Healthcare, One Medical’s moms and dad, climbed up more than 68% on Thursday, trading simply listed below the purchase cost. As of Wednesday’s close, prior to the statement of the offer, shares of 1Life were trading at $1018

Amazon’s stock acquired approximately 1% on Thursday.

Amazon indicated a higher interest in the health-care area when it bought PillPack in 2018 for $750 million, utilizing the acquisition to introduce its own online drug store years later on. The business has actually likewise increase its telehealth service, called Amazon Care, and it has actually looked for to establish at-home medical diagnostics.

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