Amazon acquires US healthcare company One Medical for $3.9bn

Amazon has acquired One Medical, a technology-powered US primary care company, in an all-cash transaction valued at around $3.9 billion, including the latter’s net debt.

The transaction is expected to help more people get better care, when and how they need it.

One Medical combines in-person care in 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.

Neil Lindsay — Amazon Health Services senior vice president said: “We’re on a mission to make it dramatically easier for people to find, choose, afford, and engage with the services, products, and professionals they need to get and stay healthy, and coming together with One Medical is a big step on that journey.

“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-centered, technology-forward approach and excited to help them continue to grow and serve more patients.”

Previously owned by San Francisco-based 1Life Healthcare, One Medical reportedly has approximately 815,000 members and 214 medical points across over 20 markets.

One Medical also partners with over 8,500 companies to offer health benefits to their employees.

Andy Jassy — Amazon CEO said: “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.”

Amir Dan Rubin will remain as CEO of One Medical.

One Medical, which was supported by Google and others as a startup, went public in 2020.

In July 2022, Amazon entered into a definitive merger agreement to acquire One Medical.