Amazon to buy One Medical for approximately £3.3bn

Amazon is set to acquire primary care tech provider, One Medical, for approximately £3.3billion ($3.9billion).

One Medical’s mission is to make quality healthcare more affordable and accessible through a combination of in-person, digital and virtual care services.

The proposed acquisition see Amazon acquiring One Medical for approximately £15 ($18) per share in an all-cash transaction that has been valued at approximately £3.3billion ($3.9billion).

Neil Lindsay, SVP of Amazon Health Services, said: “We think health care is high on the list of experiences that need reinvention. Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy – we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.”

He continued: “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. Together 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. We look forward to delivering on that long-term mission.”

One Medical makes it easier for patients to schedule their appointments, renew prescriptions, access up-to-date health records and ultimately advance health outcomes. On completion of the agreement, Amir Dan Rubin is expected to remain as CEO of One Medical.

He said: “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.

“There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers. We look forward to innovating and expanding access to quality healthcare services, together.”

At the end of 2020 the online retailer launched its own pharmacy service.  Amazon Pharmacy enabled its customers to complete an entire pharmacy transaction on the website or the app.