CORP/BIZ Amazon buying One Medical in bid to become major health care entity.

mzkitty

I give up.
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  • July 21, 2022Updated 10:46 a.m. ET

Amazon said on Thursday that it had reached a deal to acquire One Medical, a network of primary care clinics, in a deal worth $3.9 billion, a big step in the e-commerce giant’s plans to become a player in the health care industry.

One Medical, which is based in San Francisco, operates a network of primary care providers that offer in-office and virtual medical services, and is one of the leading competitors to a similar but smaller service Amazon had started to offer.

Amazon will acquire One Medical for $18 per share in an all-cash transaction, it said in a statement. The deal will require approval from One Medical’s shareholders and regulators.

“We think health care is high on the list of experiences that need reinvention,” Neil Lindsay, the senior vice president of Amazon Health Services, said in the statement.

The deal is the first major acquisition under Andy Jassy, who took over as Amazon’s chief executive last year when founder Jeff Bezos stepped down. Mr. Jassy has told investors he would rein in costs, though the acquisition shows he will not shy away from strategic investments at the right price.

One Medical, a former Silicon Valley “unicorn,” a term for a start-up valued by investors at $1 billion or more, went public in 2020 at $22.07 a share. After hitting a peak of $58.70 last year, its stock price closed on Wednesday at $10.18.

“We look forward to innovating and expanding access to quality healthcare services, together,” said One Medical’s chief executive, Amir Dan Rubin, who will remain in his post after the deal closes.

In 2019, Amazon began running its own primary and urgent care service, called Amazon Care, to treat its employees, first in Washington State and then nationally. It is based on virtual sessions with providers and home visits, though it has been expanding its physical clinics.

Amazon Care has tried to get other employers to offer the service, though it has not had much success. In announcing a national expansion this year, it promoted Silicon Labs, TrueBlue and Whole Foods Market, which Amazon owns, as clients.

One Medical is far larger, with more than 8,500 employers signed up as customers. One Medical also offers memberships directly to consumers.

Amazon’s ambitions to be a health care player accelerated in 2018, when it spent $753 million to buy the start-up PillPack, an online pharmacy, in an effort to grab a piece of the $560 billion prescription drug industry.

 

Griz3752

Retired, practising Curmudgeon
Boezos & CO have been poking at this for years. It will come down to who has the hammer when TBTB make a decision.

Well that and how big are the cheques he's cutting & to whom?
 
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Hfcomms

EN66iq
Time for the regulators to do their jobs for antitrust and monopoly violations. Standard oil was broken up in 1911 for violations of the Sherman Antitrust Act and AFAIK that is still law. But then again we passed from a nation of laws a long time ago today it's more 'pay to play'.
 

Cacheman

Ultra MAGA!
Bezos wants in on the action and it could be his best investment yet. He see's all these EUA drugs the drug companies are putting out there and he can peddle them with absolutely zero risk of liability plus there's no cost to market them since social media and the government takes care of all that. Nothing but a win-win for Bezos.
 

Jez

Veteran Member
Time for the regulators to do their jobs for antitrust and monopoly violations. Standard oil was broken up in 1911 for violations of the Sherman Antitrust Act and AFAIK that is still law. But then again we passed from a nation of laws a long time ago today it's more 'pay to play'.

Regulators have been asleep at the wheel so long that it seems the law is pro monopoly rather than anti-monopoly.

Old Fogey Alert.
I remember when Amazon started breaking out from just selling books. I thought who would spend money to buy from Amazon when they could just go to the mall. Now brick and morter stores are all but gone, malls are demolished into apartments or are becoming weird museums.

If politicians weren't sprinting to destroy everything and selling off assets to our enemies I wonder what the next 20 year would bring us.
 

vessie

Has No Life - Lives on TB
Maybe it's time to stock up on home medical supplies, first aid supplies, etc. I'd think their focus would be on supplying those clinics, and not on their retail sales at amazon.com.
I already do this.

There are many simple tests that you can do at home without having to beg to see a doctor.

Like UTI's.

You can buy the UTI tests on Amazon and save your time and money going to see the doctor.
AZO Urinary Tract Infection (UTI) Test Strips, Accurate Results in 2 Minutes, Clinically Tested, Easy to Read Results, Clean Grip Handle, #1 Most Trusted Brand, 3 Count

https://smile.amazon.com/dp/B00854L...colid=DO3HU6L9Q54Z&psc=1&ref_=lv_ov_lig_dp_it

And also get Amoxycillin from online vet site via the Fish section. 500mg. every 12 hours for 7 days does the trick, since that's what my doc prescribes. Cheaper than the meds you'll pay at the pharmacy.

With so many med shortages, it serves you well to buy a few bottles of the fish Amoxycillin that are 500mg. 100 count capsules.

And it's a total pain in the ass having to go to the clinic, submit a urine sample for them to then use the same strips to test for a UTI.

My cousin uses the above UTI test strips because her mom is 91 and it's a total pain in the ass to try to get her out of bed and then to the doctor. Her doctor made sure she keeps the above test strips in the above Amazon link so she can test mom at home.

This will save you a ton of money and time.

Also, if your traveling, being hit with a UTI is the worst time. And especially trying to find a clinic in an unknown locale. V
 
IMAGINE the highly profitable medical data-mining opportunities - they are ENDLESS.

Recall the data-mining possibilities that they already exploit, package, and sell with regards to their Amazon customers.

Now they can know EVERYTHING about their customers, inside and out.

Literally.

THAT'S what I call "capitalism," at its absolute FINEST!

<ahem>


intothegoodnight
 

Knoxville's Joker

Has No Life - Lives on TB
IMAGINE the highly profitable medical data-mining opportunities - they are ENDLESS.

Recall the data-mining possibilities that they already exploit, package, and sell with regards to their Amazon customers.

Now they can know EVERYTHING about their customers, inside and out.

Literally.

THAT'S what I call "capitalism," at its absolute FINEST!

<ahem>


intothegoodnight

This may be a deal killer if certain things come out in regards to data mining. They have been spanked several times by regulators over improper selling and mining of data. Amazon is about to learn CMS/Jacho are not folks you screw around with. They will shut you down in half a second once you step past certain lines.
 
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