Amazon will buy the American health company one doctor, for $3.9 billion. In the joint announcement about this acquisition, the e-commerce giant describes One Medical as a technology-enabled primary health care company.
The North American company, based in San Francisco, offers a service in which it is possible to access medical care virtually or even make appointments online -in physical format or by videoconference-. The company also operates a network of primary care spaces.
In addition, One Medical created a subscription service, where it is possible to access free video consultations, schedule appointments or even prescribe medications and renew prescriptions. One Medical operates mainly in the US market, having more than 8,000 companies in its client portfolio, which provide benefits to its employees.
Amazon explains that it will pay $18 for each One Medical share and that it will also keep the company’s debt. According to the Wall Street Journal, the value offered per share is 77% above the closing price of One Medical in the Wednesday session, but still below the high of $58.7 registered on February 12, 2021.
“Coupled with One Medical’s human-centric and technological approach, we believe we can and will help more people get better care, when and how they need it,” said Neil Lindsay, senior vice president of Amazon Health Services.
“There is a tremendous opportunity to make the health care experience more accessible, affordable and even more enjoyable for patients, providers and customers. We look forward to innovating and expanding access to quality healthcare together.”
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Following the acquisition, which is still subject to regulatory review, Amir Dan Rubin will continue as CEO of One Medical.
Shares of One Medical are up 67.44% at this point in Thursday’s Wall Street session, at $17.04. One Medical, which had giant Alphabet, owner of Google, listed as investors, went public on January 31, 2020 through an initial public offering (IPO).
This acquisition is the latest move by Andy Jassy-led technology into the healthcare market: the company has a unit specifically dedicated to this area. This acquisition could cement Amazon’s presence in this market, after the company bought PillPack in 2018 for $750 million to launch an online pharmacy service.
More recently, the company has invested in remote consulting services, through the launch of Amazon Care. This service that was made available in the summer of last year in the US market and is used mainly by Amazon employees.
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Source: Observadora
