Amazon announced Thursday it will acquire the primary care organization One Medical in a deal valued roughly at US$3.9 billion, marking another expansion for the retailer into health care services.
The Seattle-based e-commerce giant said in a statement it will acquire One Medical for US$18 per share in an all-cash transaction. Its one of Amazon's biggest acquisitions, following its $13.7 billion deal to buy Whole Foods in 2017 and its $8.5 billion purchase of Hollywood studio MGM, which closed earlier this year.
As of this March, One Medical had about 767,000 members and 188 medical offices in 25 markets, according to its first-quarter earnings report, which also showed the company had incurred a net losses of $90.9 million after pulling in US$254.1 million in revenue. The total deal value announced Thursday includes One Medical's debt.
“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.
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