Amazon acquires One Medical clinics as a part of latest foray into healthcare.

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Amazon introduced on Thursday that it had reached an settlement to accumulate One Medical, a community of major care clinics, in a deal price $3.9 billion, a giant step within the e-commerce large’s plans to to turn into a serious participant within the healthcare trade.

Primarily based in San Francisco, One Medical operates a community of major care suppliers providing in-office and digital medical providers.

Amazon will purchase the corporate for $18 per share in a money transaction. said in a statement. The transaction requires One Medical shareholder and regulatory approvals.

“We imagine healthcare is on the high of the listing of experiences that must be reinvented,” Amazon Well being Providers senior vp Neil Lindsay stated within the assertion.

A medic, a former “Unicorn” from Silicon Valley a time period for a startup valued by traders at $1 billion or extra, went public in 2020 for $22.07 per share. After hitting a excessive of $58.70 final yr, the share worth closed at $10.18 on Wednesday.

“We look ahead to collectively innovating and increasing entry to high quality healthcare providers,” stated Amir Dan Rubin, Chief Government of One Medical, who will stay in his put up following the closing of the transaction.

Amazon has made quite a lot of healthcare strikes recently. In 2019, it reportedly spent round $1 billion shopping for the startup PillPackan internet pharmacy, is making an attempt to seize a bit of the $560 billion prescription drug trade.

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