Home » Business News » Amazon buys primary healthcare firm One Medical for $3.9 billion

Amazon buys primary healthcare firm One Medical for $3.9 billion

By Nagasunder in Business News, posted July 25, 2022

Amazon has bought healthcare provider One Medical for $3.9 billion.

The e-commerce giant is intensifying its attempts to reinvent healthcare in a digital and virtual world and confirmed it has bought the company.

One Medical integrates in-person treatment with digital health and virtual healthcare services.

Neil Lindsay, SVP of Amazon Health Services. said “Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy - we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days,'

'Together with One Medical's human-centered and technology-powered approach to health care, 'we believe we can and will help more people get better care, when and how they need it,' he said in a statement.

One Medical went public in 2020 and was backed by Google and others as a startup.

Amir Dan Rubin, One Medical CEO said: 'There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers.

"We look forward to innovating and expanding access to quality healthcare services, together,

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One Medical will be purchased by Amazon for $18 per share in an all-cash deal estimated to be worth $3.9 billion when the net debt for One Medical is taken into account.

The deal must pass the usual closing requirements, such as shareholder and regulatory approval of One Medical, in order to be completed.

Once the transaction is through, Rubin will remain as CEO of One Medical, said the company

Source: Medical Dialogues

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