Amazon is buying primary-care practice One Medical for $3.9 billion, its latest move into the healthcare space via WSJ
which operates a primary-care practice under the name One Medical, for $3.9 billion, including debt, the retailing giant’s latest foray into the healthcare space.
Amazon on Thursday said it is paying $18 a share in cash for the San Francisco-based 1Life Healthcare. Amazon said the total deal value includes One Medical’s debt. One Medical is a membership-based primarycare practice with offices in 12 major U.S. markets, according to its website. It offers healthcare service in person and provides access to virtual care as well. It works with more than 8,000 companies to provide One Medical health benefits to their employees.
“We think health care is high on the list of experiences that need reinvention,” said Neil Lindsay, senior vice president of Amazon Health Services. “We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.”Shares of Amazon rose more than 1% in premarket trading to $124.40 a share. One Medical stock was halted ahead of the news.
The deal price marks a roughly 77% premium, based on where shares of One Medical closed on Wednesday.Sponsored Offers
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