{"id":1565231,"date":"2022-07-21T18:05:09","date_gmt":"2022-07-21T22:05:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1565231"},"modified":"2022-07-21T18:05:19","modified_gmt":"2022-07-21T22:05:19","slug":"amazon-strikes-3-5-billion-deal-for-one-medical-in-long-march-into-u-s-healthcare","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-strikes-3-5-billion-deal-for-one-medical-in-long-march-into-u-s-healthcare\/","title":{"rendered":"Amazon strikes $3.5 billion deal for One Medical in long march into U.S. healthcare"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famazon-strikes-3-5-billion-deal-for-one-medical-in-long-march-into-u-s-healthcare%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1565231&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Manas Mishra and Jeffrey Dastin<\/p>\n<p>(Reuters) \u2013     Amazon.com Inc on Thursday agreed to buy primary care provider One Medical for $3.49 billion, expanding the e-commerce giant\u2019s virtual healthcare and adding brick-and-mortar doctors\u2019 offices for the first time.<\/p>\n<p>The all-cash deal would combine two relatively small players as Amazon continues a years-long march into U.S. healthcare, seeking to grow at a faster pace.<\/p>\n<p>The online retailer first piloted virtual care visits for its own staff in Seattle in 2019 before offering services to other employers under the Amazon Care brand. It likewise bought online pharmacy PillPack in 2018, underpinning a prescription delivery and price-comparison site it later launched.<\/p>\n<p>\u201cWe think healthcare is high on the list of experiences that need reinvention,\u201d said Neil Lindsay, senior vice president of Amazon Health Services.<\/p>\n<p>The Seattle-based retailer has signaled its ambitions to improve and speed up care. However, a big idea akin to how Amazon has automated the role of cashiers in grocery stores has yet to emerge.<\/p>\n<p>In One Medical, Amazon is acquiring a loss-making company with 767,000 members and enterprise clients such as Airbnb Inc and Alphabet Inc\u2019s Google, which offer its services as a benefit to employees, according to its website and recent financial results.<\/p>\n<p>Larger rival Teladoc Health Inc, by contrast, has more than 54 million paying members in the United States and double One Medical\u2019s quarterly revenue. News of the Amazon deal sent shares of Teladoc as well as drugstore retailers CVS Health Corp and Walgreens Boots Alliance Inc down between 0.3% and 1.8%.<\/p>\n<p>The acquisition makes sense as the \u201cblending of virtual and in-person care is core to both One Medical and Amazon Care\u2019s strategy,\u201d said Citi analyst Daniel Grosslight.<\/p>\n<p>DEAL SCRUTINY EXPECTED<\/p>\n<p>Amazon Care recently made its virtual care accessible nationwide and added the option for house-calls in Los Angeles, Washington, Dallas and elsewhere. The COVID-19 pandemic helped increase demand as Amazon Care started signing up clients including Hilton Worldwide Holdings Inc.<\/p>\n<p>One Medical, founded in 2007, now gives Amazon 188 medical offices, its recent financial report showed.<\/p>\n<p>Carlyle Group Inc, which had paid $350 million for a minority stake in One Medical in 2018, will exit its position as part of Amazon\u2019s acquisition, people familiar with the matter said.<\/p>\n<p>Amazon agreed to pay $18 for each share of One Medical, a premium of 76.8% to the healthcare firm\u2019s last close. One Medical shares were trading at $17.12.<\/p>\n<p>The deal is valued at $3.9 billion including One Medical\u2019s net debt.    <\/p>\n<p>Amazon\u2019s limited healthcare presence should minimize antitrust issues, but risks remain, analysts said.<\/p>\n<p>Grosslight said Amazon\u00a0\u201cdoes seem to have a target on its back, and the DOJ (the U.S. Department of Justice) has been very aggressive in blocking deals recently.\u201d<\/p>\n<p>\u201cThat will most definitely subject this acquisition to more scrutiny than normal.\u201d<\/p>\n<p> (Reporting by Manas Mishra in Bengaluru and Jeffrey Dastin in New York; Addiitonal reporting by Chibuike Oguh in New York; Editing by Bernadette Baum, Maju Samuel and Cynthia Osterman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2729068\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6K0JW-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6K0JW-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Manas Mishra and Jeffrey Dastin (Reuters) \u2013 Amazon.com Inc on Thursday agreed to buy primary care provider One Medical for $3.49 billion, expanding the e-commerce giant\u2019s virtual healthcare and<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1565231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1565231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1565231"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1565231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1565231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1565231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1565231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}