Amazon closes $3.9 bn acquisition of healthcare provider One Medical

Amazon has closed its $3.9 billion acquisition of primary healthcare organisation One Medical, as the e-commerce giant steps up efforts to reinvent healthcare in the digital and virtual era.

The acquisition was originally announced in July last year.

One Medical combines in-person care in inviting offices across the country with digital health and virtual care services, making it easier for patients to schedule appointments, renew prescriptions, access up-to-date health records, and advance health outcomes.

"For a limited time, One Medical is offering annual memberships at the discounted price of $144 for the first year (regularly $199 per year), the equivalent of $12 per month, to new customers," Amazon said in a blog post.

One Medical went public in 2020 and was backed by Google and others as a startup.

"One Medical has set the bar for what a quality, convenient, and affordable primary care experience should be like. We're inspired by their human-centred, technology-forward approach and excited to help them continue to grow and serve more patients," said Neil Lindsay, senior vice president of Amazon Health Services.

Amazon acquired One Medical for $18 per share in an all-cash transaction valued at approximately $3.9 billion, including One Medical's net debt.

"We now set our sights on delivering even further positive impacts for consumers, employers, care teams, and health networks, as we join Amazon with its long-term orientation, history of invention, and passion for reimagining a better future," said Amir Dan Rubin, CEO of One Medical.

Amazon CEO Andy Jassy said that customers want and deserve better, and that's what One Medical has been working and innovating on for more than a decade.

"Together, we believe we can make the health care experience easier, faster, more personal, and more convenient for everyone," he said.