Amazon Acquires health services company One Medical at a value of $ 18 per share, and for a total amount of $ 3.9 billion. This acquisition strengthens Amazon’s position in healthcare, an area that according to Neil Lindsay, a senior at Amazon, needs a significant change. “Amazon wants to change the way people book appointments with doctors, and the way they are treated,” he continues.
One Medical, launched in 2020, operates a network of private boutique clinics, and also provides digital medical care. The company has 188 clinics in 25 countries, and it provides medical services to 767,000 people, according to the latest quarterly report. One Medical reported a loss of $ 90.9 million and revenue of $ 254.1 million in the first quarter.
“This is an opportunity to make medical service accessible, cheap, and enjoyable for both customers and service providers,” says CEO Amir Dan Rubin.
One Medical’s parent company, 1Life Healthcare, climbed above 68% in trading on Thursday, reaching a price of $ 17.25 per share. Amazon stock has risen about 1%, and now in late trading it is losing 0.7%.
Amazon’s previous acquisitions in the healthcare sector include pillipack in 2018 for $ 750 million, and following the acquisition, Amazon has opened a digital pharmacy.