Amazon Makes 3rd Biggest Acquisition in Company History

Amazon (Seattle) is acquiring One Medical (San Francisco), a healthcare organization that has been called the “Netflix of primary care,” in a deal valued at $3.9 billion.

One Medical’s mission, according to a company press release, is to make health care more accessible and affordable through a combination of digital, in-person and virtual services. The deal will reportedly be Amazon’s third-largest acquisition in company history.

The SVP of Health Services for Amazon, Neil Lindsay, says, “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.”

The $3.9 billion transaction value includes One Medical’s net debt. Once the deal is finalized, One Medical’s current CEO Amir Dan Rubin will remain in his position.