Amazon announced it had acquired primary healthcare organisation One Medical for approximately $3.9 billion as the e-commerce giant steps up efforts to reinvent healthcare in the digital and virtual era.
One Medical combines in-person care in inviting offices across the country with digital health and virtual care services, making it easier for patients to schedule appointments, renew prescriptions, access up-to-date health records, and advance health outcomes.
“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,” said Neil Lindsay, SVP of Amazon Health Services.
“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.
“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,” said Amir Dan Rubin, One Medical CEO.
Amazon will acquire One Medical for $18 per share in an all-cash transaction valued at approximately $3.9 billion, including One Medical’s net debt.
The completion of the transaction is subject to customary closing conditions, including approval by One Medical’s shareholders and regulatory approval.
Once the transaction is through, Rubin will remain as CEO of One Medical, said the company.