Amazon to Buy One Medical in $3.9 Billion All Cash Deal
2022.07.21 17:18
Amazon (AMZN) to Buy One Medical (ONEM) in $3.9 Billion All Cash Deal
By Senad Karaahmetovic
Amazon (NASDAQ:AMZN) has announced today it will acquire One Medical (NASDAQ:ONEM) for $18 per share.
One Medical is described as “a human-centered, technology-powered national primary care organization on a mission to make quality care more affordable, accessible, and enjoyable through a seamless combination of in-person, digital, and virtual care services that are convenient to where people work, shop, and live.”
The agreed price of $18 per share represents a premium of nearly 77% compared to yesterday’s closing price of $10.18. All-in-all, Amazon will pay about $3.9 billion to acquire One Medical.
“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,” said Neil Lindsay, SVP of Amazon Health Services.
Once the deal is closed, One Medical’s CEO Amir Dan Rubin is expected to remain in the same position.
