Amazon completed its acquisition of primary-care company One Medical on 22 February, expanding its healthcare business into a combination of physical offices and app-based services.
Amazon premises in Shakopee, 2017. Photo © Tony Webster (2018), “Amazon Fulfillment and Trucks Sign – Shipping Center in Shakopee, Minnesota” (2017). CC BY 2.0. Resized; responsive crops.
The companies announced the agreement on 21 July 2022: $18 per share in cash, valuing the transaction at approximately $3.9 billion including One Medical’s net debt. That announcement set out a proposed purchase subject to closing conditions; February’s announcement confirms completion.
In its closing announcement, Amazon described round-the-clock virtual care alongside in-person appointments. Membership covers on-demand virtual services; office visits are separate services for which One Medical accepts most major health insurance plans.
The companies offered new US customers a limited-time $144 first-year membership, compared with the stated regular annual price of $199. Membership remained separate from Amazon Prime.
Amazon framed the acquisition as a way to improve access and patients’ experience. Those are company ambitions, not demonstrated clinical outcomes or a guarantee of lower healthcare costs.
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