Amazon signs agreement to acquire One Medical

Amazon has signed an agreement to acquire One Medical for $3.9 billion.

The move, announced Thursday, is the latest in Jeff Bezos’ attempt to become a major player in the healthcare industry.

“We think health care is high on the list of experiences that need reinvention,” Neil Lindsay, SVP of Amazon Health Services, said in a statement.

He lamented that many people complete the often arduous process of booking an appointment, waiting, then driving to a clinic only to be seen by a doctor for a few minutes.

“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, adding that “with One Medical’s human-centered and technology-powered approach to health care, we believe we can and will help more people get better care, when and how they need it.”

One Medical’s CEO Amir Dan Rubin echoed Lindsay’s sentiments, calling the Amazon acquisition an “immense opportunity.”

The San Francisco-based healthcare company provides both in-person and online medical services across the country. As the New York Times reports, it was a leading competitor to a less popular but similar service already offered by Amazon called Amazon Care.

By acquiring One Medical and its vast number of clients, Amazon moves closer to becoming a major player in the healthcare industry. In 2018, Amazon signalled its desire to enter the multi-billion dollar sector by acquiring the online pharmacy PillPack for $753 million.

The One Medical deal is subject to regulatory approval as well as consent from One Medical’s shareholders. Amazon said it will be making the $3.9 billion purchase in cash at $18 per share.

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