- Amazon Inc. (NASDAQ:AMZN) has closed a multi-billion-dollar acquisition of primary care provider One Medical
- The deal is worth a reported $3.9 billion
- One Medical has over 200 primary care offices, operates in more than 20 U.S. cities and has over 800,000 registered patients
- Amazon Inc. (AMZN) climbed following the news, up 1.49 percent, trading at $95.99 at 12:59 p.m. ET.
Amazon (NASDAQ:AMZN) has closed a multi-billion-dollar acquisition of primary care provider One Medical.
Amazon made the announcement in a statement Wednesday.
The deal is worth a reported $3.9 billion and gives Amazon full access to San Francisco-based One Medical’s over 200 primary care offices. The company operates in more than 20 U.S. cities and has over 800,000 registered patients.
Amazon is offering new customers a discounted $144 annual fee rather than the full price of $199.
A One Medical membership remains different from an existing Amazon Prime membership.
One Medical offers same and next-day in-office or remote visits, as well as 24-hour on-demand virtual care services using an app.
“Customers want and deserve better, and that’s what One Medical has been working and innovating on for more than a decade. Together, we believe we can make the health care experience easier, faster, more personal, and more convenient for everyone,” Amazon CEO Andy Jassy said in a statement.
“If you fast forward 10 years from now, people are not going to believe how primary care was administered. For decades, you called your doctor, made an appointment three or four weeks out, drove 15-20 minutes to the doctor, parked your car, signed in and waited several minutes in reception, and eventually were placed in an exam room, where you waited another 10-15 minutes before the doctor came in, saw you for five to ten minutes and prescribed medicine, and then you drove 20 minutes to the pharmacy to pick it up—and that’s if you didn’t have to then go see a specialist for additional evaluation, where the process repeated and could take even longer for an appointment.”
Shares of Amazon Inc. (AMZN) climbed following the news, up 1.49 percent, trading at $95.99 at 12:59 p.m. ET.