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Amazon to reinvent healthcare with $3.9bn One Medical acquisition


Amazon
// Amazon has snapped up healthcare provider One Medical for $3.9 billion
// Amazon Health Services SVP Neil Lindsay said: “We think health care is high on the list of experiences that need reinvention.”

Amazon has moved into healthcare as it strikes a $3.9 billion deal to buy One Medical.

One Medical is a membership-based service that offers both virtual and in-person care.

Amazon describes the specialist as “on a mission to make quality healthcare moe affordable, accessible and enjoyable”.

Amazon Health Services SVP Neil Lindsay said: “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.


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“We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years.

“Together with One Medical’s human-centered and technology-powered approach to healthcare, we believe we can and will help more people get better care, when and how they need it. We look forward to delivering on that long-term mission.”

One Medical has about 767,000 members and 188 medical offices in 25 markets, although its latest quarter showed it was significantly loss-making, after it incurred a net loss of $90.9m on $254.1m in revenue. Amazon will take on One Medical’s debt.

One Medical’s CEO Amir Dan Rubin will remain in charge of the business when Amazon takes over.

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