Amazon will acquire the primary care organization One Medical in a deal valued roughly at $3.9 billion, marking another expansion for the retailer into health care services.
The Seattle-based e-commerce giant said Thursday it is buying One Medical for $18 per share cash. Its one of Amazon’s biggest acquisitions, following its $13.7 billion deal to buy Whole Foods in 2017 and its $8.5 billion purchase of Hollywood studio MGM, which closed earlier this year.
Neil Lindsay, the senior vice president of Amazon Health Services, said in a statement the acquisition is geared toward reinventing the health care “experience” for things like booking an appointment and taking trips to the pharmacy. Health care costs have risen faster than wages and inflation for years and represent a huge expense to employers that offer coverage. Employers and insurers think that by connecting people to regular care, they can prevent expensive hospital stays from happening or keep chronic conditions like diabetes from leading to bigger problems.
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