Amazon Continues Its Push Into Healthcare With $3.9 Billion Move
One Medical is going into the Amazon bucket.
Amazon is your bookstore, your last-minute phone charger provider — and now, it's one step closer to also being your doctor.
The retail conglomerate will purchase One Medical, which provides in-person and virtual clinic services for $18 a share, CNBC reported Thursday.
That values the healthcare company at about $3.9 billion.
One Medical is a modern, startup-style chain of clinics that promises same-day appointments online or in-person, per its website.
The purchase is part of Amazon's continued push into healthcare. For example, the company started Amazon Care, a telehealth service, in 2019. In February, the company announced it would bring in-person services to 20 cities.
"We think health care is high on the list of experiences that need reinvention," Neil Lindsay, SVP of Amazon Health Services, said in a press release about the deal. He added the company hopes to make healthcare access more efficient.
One Medical also provides employee benefit plans and has clients including Google and Allbirds, per its website. It reported net revenue of a little over $254 Million in Q1 2022.
"There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers," Amir Dan Rubin, One Medical CEO, said in the statement.
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