July 22, 2022

Amazon to Buy One Medical for $3.9 Billion

On Thursday, July 21, Amazon closed the deal to purchase One Medical, a membership-based primary care practice, for $3.9 billion. This acquisition is another step for the global conglomerate to engage and join the health care industry.

The American health care industry has received criticism for lack of access, lack of innovation and high costs. Through this deal, Amazon hopes to improve how people book appointments and enhance the experience of being seen by a physician.

One Medical currently offers customers access to physicians and 24/7 virtual care. They also partner with employers to deliver workplace benefits.

“We think health care is high on the list of experiences that need reinvention. … We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.”

– Neil Lindsay, senior vice president of Amazon Health Services

As of today, One Medical is one of Amazon’s biggest acquisitions, totaling $18 per share in all cash transactions. Amazon previously purchased Whole Foods in 2017 for $13.7 billion and acquired Hollywood studio MGM earlier this year for $8.5 billion.

This purchase deepens the retailer’s presence in health care, an area in which it has sought to expand by launching an online pharmacy and ramping up its Amazon Care telemedicine program, among other efforts.

Even the healthiest adults need routine health care, as it can help identify and prevent problems before they develop. It’s vital for employees to feel empowered about their health and schedule routine checkups with a primary care provider.


Sourced from © 2022 Zywave, Inc.