Connect with us


Amazon Has Agreed To Purchase One Medical For Approximately $3.9 Billion

Avatar of Arsi Mughal



Amazon Has Agreed To Purchase One Medical For Approximately $3.9 Billion

(CTN News) – An all-cash deal valued at roughly $3.9 billion, Amazon is acquiring One Medical for $18 a share.

According to Neil Lindsay, senior vice president of Amazon Health Services, the deal deepens Amazon’s presence in health care.

In a statement, Lindsay said the e-commerce giant aims to make booking appointments and being seen by doctors easier.

We love inventing to make things easier, and we want to be one of the companies that significantly improves healthcare in the next several years.

In addition to telemedicine services, One Medical operates a network of boutique primary-care practices.

According to its latest quarterly results, it oversees 188 medical offices in 25 markets and has 767,000 members. During the first quarter, One Medical lost $90.9 million on revenue of $254.1 million.

The health care experience can be made more accessible, affordable, and even enjoyable for patients, providers, and payers, One Medical CEO Amir Dan Rubin said.

Rubin will continue to run One Medical after the deal closes.

One Medical’s parent company, 1Life Healthcare, rose 69% on Thursday, closing just below the purchase price. Shares of 1Life were trading at $10.18 at Wednesday’s close, before the announcement of the deal.

On Thursday, Amazon’s stock closed up 1.5%.

Amazon acquired PillPack in 2018 for $750 million, using the acquisition to launch its own online pharmacy later that year. Furthermore, Amazon has expanded its telehealth service, called Amazon Care, and is developing medical diagnostics at home.

Related CTN News:

AMZ Has Reduced Private-Label Selection Due To Weak Sales
Chinese TikTok Owner Spends 130% More Lobbying In The U.S.
1 Lucky Powerball Player Wins Nearly R100M

Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Advertise here

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies