Amazon to buy primary care provider One Medical for US$3.9B

AmazonAnnouncement ThursdayIt will also acquire the primary careOrganisation One MedicalThe deal was valued at approximately US$3.9Billion and marks yet another expansion forThe retailer that specializes in health care services.

The SeattleE-commerce giant based in the United States saidIn a statement, it will acquire One Medical for$18 per share for an all-cash transaction ItsOne of Amazon’sAfter the $13.7 billion deal, these were the largest acquisitions to buy Whole FoodsIn 2017, the $8.5 billion purchase was made Hollywoodstudio MGM, which was closed earlier this year.

One MedicalThe parent company of the is San-FranciscoBased on 1Life Healthcare, Inc. is a membership-based company that provides virtual assistance careAs well as in-person visits. ItAlso, we work with over 8,000 companies toEnjoy its health benefits to employees.

AsYou can find this article here March, One MedicalAccording to the report, there were approximately 767,000 members and about 188 medical offices in 25 countries. toThe company’s first quarter earnings report showed that it had suffered a loss of $90.9 million, despite generating $254.1 million in revenue. The total deal value announced ThursdayIncludes One Medical’s debt.

Neil Lindsay, Senior Vice President of Amazon Health Services, saidThe acquisition will be used to reinvent healthcare, according to a statement “experience” forThings like booking appointments and making trips toThe pharmacy.

“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,” Lindsay said.

Overall, consumer demand forTelemedicine and virtual Health care careDuring the COVID-19 epidemic, visits exploded. Health careBill payers, such as employers and insurers, are also focusing more on improving access. to patient careto ensure their patients remain connected in every way possible toTheir health, their doctor’s appointments and their prescriptions.

Health careThe cost of living has risen faster that inflation and wages. forThey can be expensive and take up a lot of time. toEmployers that provide coverage EmployersInsurance companies believe that people can be connected to them. toRegular careThey can save you money on hospital stays and keep chronic conditions like diabetes away from getting worse. to bigger problems.

For AmazonThe acquisition expands the company’s reach into health. care services. In2020: The retail giant opened an online pharmacy that sells prescriptions. toOrder prescription refills or medication and have them delivered toIn just a few days, they were at their front door. LastIn the same year, it started offering its Amazon Care telemedicine program to employers nationwide.

InMorning trading, shares of 1Life Healthcare68% increase to $17.13.

TheThe deal is subject to toRegulation approval. On completion, Amazon said One Medical’sCEO Amir Dan RubinHe will keep his current position.