Technology

Amazon acquiring One Medical for nearly $4 billion

Paul Sancya/ AP
The Amazon DTW1 fulfillment center is shown in Romulus, Mich. Amazon is heading to space. The online shopping giant received government approval to put more than 3,200 satellites into orbit that would beam down internet service to earth. Amazon said the satellites could provide internet to parts of the world that don’t have it.

Amazon is buying the primary health care provider One Medical for roughly $3.9 billion, the companies announced Thursday.

The deal expands the e-commerce giant’s footprint in the health care space, an area that Amazon said is ripe for “reinvention.”

“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,” Neil Lindsay, the senior vice president of Amazon Health Services, said in a statement.

The purchase, an all-cash transaction at $18 a share, is subject to approval by regulators and One Medical’s shareholders.

One Medical CEO Amir Dan Rubin will remain atop the company if the deal is completed.

The primacy care provider, which went public in 2020, operates 188 medical offices in 25 markets, according to its latest quarterly results.

One Medical also offers a variety of telemedicine services.

This is not Amazon’s first purchase in the health care space: It acquired PillPack for $750 million in 2018 before launching its own online pharmacy.

Tags Amazon Amazon healthcare Health care One Medical
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