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UPDATE: Amazon to acquire One Medical for $18 a share in cash or about $3.9 billion including debt

0 Inc.

said Thursday it has signed an agreement to acquire One Medical, a primary care organization that operates under 1Life Healthcare Inc.
for $18 a share in cash, or $3.9 billion including debt. The stock closed Wednesday at $10.18. “We think health care is high on the list of experiences that need reinvention,” Neil Lindsay, senior vice president of Amazon Health Services said in a statement. He cited a list of inconveniences associated with health care, including time needed to make a booking, taking time off work, finding a parking spot near a clinic and then accessing a pharmacy. Once the deal closes, Amir Dan Rubin will remain CEO of One Medical. Amazon has made a series of moves in the health care space, including acquiring online pharmacy PillPack in 2019. One Medical stock soared 67% premarket after resuming trading following a halt, but has fallen 42% in the year to date, while the S&P 500

has fallen 17%.

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