One Medical’s CEO said his company’s acquisition by Amazon is “an opportunity to transform health care and improve outcomes.” But I interpreted the pending $3.9 billion purchase as a bright, blinking sign that the world’s largest retailer is not afraid of regulatory oversight or intervention. Walter Thompson: Amazon is the black hole created by the death of Main Street retail Yesterday, Amazon announced its first major acquisition during Andy Jassy’s tenure as C.E.O., with the 3.9 billion purchase of One Medical, a national chain of. One Medical is a membership-based primary care service that promises customers '24/7 access to virtual care.' The company operates in a dozen major US markets, according to its website, and works. What should we make of the Amazon deal, though? We covered the news on TechCrunch, and TechCrunch+ dug around into what the smaller company could offer its new parent, so we’ve gathered to share a few more thoughts on the matter.įrom Walter Thompson, Miranda Halpern and Alex Wilhelm, three views follow on the Amazon-One Medical transaction. Following Amazons 3.9 billion acquisition of One Medical, Business Insider reported the company would add mental health services to its portfolio. At $18 per share, One Medical is exiting the public markets with a price tag that’s higher than when it IPO’d - a win of sorts for the unprofitable company. Instead, Amazon nabbed it up in a deal that comes to around $3.9 billion. After a torrid public offering, the value of the American consumer healthcare and technology company had fallen below its IPO price, and it was an obvious target for the right buyer.īut after CVS left the table, it wasn’t a healthcare entity that snapped up the former venture darling, and nor was it turned into a platform play by private equity. ONEM stock is up 69.4% as of Thursday morning.After it was rumored to be in play earlier this month, it shouldn’t come as a huge surprise that One Medical has found a new home. To put that in perspective, the company’s daily average trading volume is closer to 2.6 million shares. It allows practicing medicine the way it should be. As of this writing, more than 40 million shares have been traded. One Medical makes access to care frictionless with face-to-face virtual video visits available anytime. ONEM stock is experiencing heavy trading today on the buyout news. The two didn’t say when they expect the deal to close.
That includes getting approval from regulators and shareholders. The deal between One Medical and Amazon still needs to complete customary closing conditions. We look forward to delivering on that long-term mission. Currently, Tucson Medical Center One Medical Group's 60 physicians cover 25 specialty areas of medicine. Tucson Medical Center One Medical Group is a group practice with 16 locations. 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. About Tucson Medical Center One Medical Group. Neil Lindsay, SVP of Amazon Health Services, said the following about the deal: Instead, current CEO Amir Dan Rubin will continue to lead the company after its joins the e-commerce giant. The deal is currently pending regulatory approval. Investors will note that Amazon is using cash to fuel its acquisition of One Medical.Īmazon isn’t planning to shake up the leadership team at One Medical after the deal is complete. On July 21st, Amazon announced plans to acquire One Medical, a telehealth and primary care service, in an all-cash deal worth 3.9 billion. This includes the company’s current net debt. That purchase price has the total value of the deal for One Medical reaching $3.9 billion. That’s about a 76.8% premium compared to the closing price of $10.18 per share for ONEM stock on Wednesday. One Medical (NASDAQ: ONEM) stock is rocketing higher on Thursday following news of a buyout by Amazon (NASDAQ: AMZN).Īccording to a press release, Amazon is going to acquire the chain of primary healthcare clinics for $18 per share.
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