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Tuesday, September 27, 2022
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Amazon Acquires One Medical for $3.9 Billion; Plans to Enter the Primary Care Market

Make no mistake, a human skill-set is loaded with valuable elements, but if we sit back and assess things a little, it will be unlikely for us to find anything more valuable than our ability to grow on a consistent basis. You see; when someone can get better under all possible situations, they, more often than not, end up giving themselves a chance to pull off some great stuff along the way. This is wholly validated by everything we achieved so far, with one unique piece of testimony coming from a creation called technology. Technology’s emergence was always a bit anomalous for reasons that notably went beyond its skill-set. For instance, they were also predicated upon how the creation used those skills to impact an entire spectrum, including the highly-critical area of healthcare as well. In fact, technology’s foray into healthcare couldn’t have come at a better time, considering the way sector was struggling to hold up against an outright obsolete structure. Nevertheless, even after shaking up that reality, the renowned medtech linkup will continue to scale things up on all fronts. This very pattern was also evident in a recent acquisition.

Amazon has officially reached an agreement to acquire membership-based telehealth service, One Medical in a deal worth around $3.9 billion. According to certain reports, the e-commerce giant will fork out $18 per share, fulfilling the entire monetary obligation in what is being touted as an all-cash transaction. Interestingly, it’s also the third most expensive acquisition Amazon has ever made after Whole Foods and MGM, therefore reflecting the company’s grand ambitions for the healthcare block, but why did it pick One Medical ahead of others? Well, since starting out in 2007, One Medical has gone on to play a massive role in our transition to using telehealth services more regularly. At the moment, the company is working with 8,000 employers to provide extensive health benefits to their workforce. Furthermore, as of March, the company already had 767,000 members onboard, while boasting over 188 medical offices across 25 markets. Now, when you put this enormous experience alongside a Covid 19-driven surging demand for telemedicine services, you instantly get a prospect that was hugely attractive for a company like Amazon.

When quizzed regarding the significance of the deal, One Medical’s CEO, Amir Dan Rubin said:

“There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers. We look forward to innovating and expanding access to quality healthcare services, together.”

Still subject to regulatory approval, the deal will provide a different dimension to Amazon’s growing healthcare presence. So far, the company has invested heavily in taking over the pharmaceutical market, but through One Medical, it should have a shot at tapping into primary care as well.

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