News

Amazon Expands Its Health Business, Buys One-Medical Inc For $3.9 Billion


Amazon is widening its interests in the health sector after purchasing One-Medical, a company that aggregates data to connect patients and healthcare providers with ease.

The deal announced on Thursday was sealed at $3.9 billion, equivalent to $18 per share.

Amazon’s purchase of the healthcare provider opens a new chapter in the company’s continued growth. The company aims to improve on One-Medical’s existing platform to improve how people book appointments and the experience they draw from a doctor’s visit.

Neil Lindsay, senior vice president of Amazon Health Services, said, “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,”

One-medical has been in operation since 2007 and offers clinical services in 25 markets across the United States.  In its latest quarterly report, the company which went public in 2020 said it has 188 medical offices and 736,000 members.

In the report, One-Medical’s net loss of $90.9 million on revenue of $254.1 million in the first quarter. Amazon hopes to turn around this negative balance sheet, as it focuses on launching its own online pharmacy.

Even as the promising deal beckons, observers are wary that amazon may use client data from one-medical for advertisements of its larger eCommerce business.

Follow us on TelegramTwitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to info@techtrendske.co.ke.

Facebook Comments

icolo.io CEO Ranjith Cherickel on the firm's new data center in Mombasa

Simon W Nderitu

Simon is a tech enthusiast who keeps a close eye on emerging technologies, startups and the general business environment. You will often catch him totally immersed and drooling over Artificial Intelligence, Machine Learning, Virtual Reality, Augmented Reality, IoT and just about any other tech that promises to revolutionize the way we live. Send tips to snderitu@techtrendske.co.ke

Leave us a comment

Back to top button