Amazon Strikes $3.5 Bln Deal For One Medical In Long March Into U.S. Healthcare.

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\Amazon.com Inc (AMZN.O) agreed to buy primary care provider One Medical (ONEM.O) for $3.49 billion. Expanding the e-commerce giant’s virtual healthcare and adding brick-and-mortar doctors’ offices for the first time.

The all-cash deal would combine two relatively small players as Amazon continues a years-long march into U.S. healthcare, seeking to grow at a faster pace.

DEAL SCRUTINY EXPECTED
U.S. Senator Amy Klobuchar, who is also the Chairwoman of the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights on Thursday urged the Federal Trade Commission (FTC) to investigate Amazon’s proposed deal, expressing concerns over the acquisition’s implications for personal health data.

Amazon Care recently made its virtual care accessible nationwide and added the option for house-calls in Los Angeles, Washington, Dallas and elsewhere. The COVID-19 pandemic helped increase demand as Amazon Care started signing up clients including Hilton Worldwide Holdings Inc (HLT.N).

One Medical, founded in 2007, now gives Amazon 188 medical offices, its recent financial report showed.
The deal is valued at $3.9 billion including One Medical’s net debt.

-REUTERS.

https://www.reuters.com/markets/deals/amazon-buy-one-medical-35-billion-deal-2022-07-21/

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