Amazon acquires One Medical for $3.9bn

Amazon has entered into a merger agreement which will see it acquire healthcare organisation One Medical for $3.9 billion.

The news follows its recent venture into e-cargo bikes as, according to the ecommerce, “tackling transport emissions is key if we are to reach net zero”.

Amazon’s latest move enrolls it into the world of healthtech, with One Medical centered around technology-powered care. The organisation said its mission is to provide more “affordable, accessible, and enjoyable” care through a combination of in-person, digital, and virtual care services that are “convenient” to where people work, shop, and live.

“The opportunity to transform health care and improve outcomes by combining One Medical’s human-centered and technology-powered model and exceptional team with Amazon’s customer obsession, history of invention, and willingness to invest in the long-term is so exciting,” said Amir Dan Rubin, One Medical CEO.

Together with One Medical’s human-centred 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,” adds Neil Lindsay, SVP of Amazon Health Services.

The US ecommerce giant has ramped up its focus on healthtech in recent years. In 2021 it launched AWS Healthcare Accelerator for startups in the public sector. The four-week programme focuses on solutions such as remote patient monitoring, voice technology, analytics, patient engagement, and virtual care.

Yet cited by magazine Healthcare, Amazon didn’t step into healthcare until around 2017, and in 2019 it announced its partnership with the NHS to enable patients who cannot easily search for health advice on the internet to do so through Alexa, Amazon’s AI-drive voice assistant.

Amazon said that it will receive One Medical for $18 per share in an all-cash transaction, including One Medical’s net debt.

However, the completion of the transaction is subject to customary closing conditions, including approval by One Medical’s shareholders and regulatory approval. Upon completion, the healthcare organisation said Amir Dan Rubin will remain as CEO of One Medical.