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M&A

Amazon To Acquire One Medical For $3.9B

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will acquire health care provider for $18 per share, the companies Thursday.

The deal values One Medical at around $3.9 billion, and marks one of Amazon鈥檚 largest moves into health care.

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鈥淭he opportunity to transform health care and improve outcomes by combining One Medical鈥檚 human-centered and technology-powered model and exceptional team with Amazon鈥檚 customer obsession, history of invention, and willingness to invest in the long-term is so exciting,鈥 One Medical CEO said in a statement.

鈥淭here is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers. We look forward to innovating and expanding access to quality healthcare services, together,鈥 said Rubin.

Rubin will remain One Medical鈥檚 CEO once the acquisition is completed, the companies said.

M&A’s becoming noteworthy

San Francisco-based One Medical raised $245 million through its IPO in January 2020. The company鈥檚 stock price is down around 5% since the beginning of the year, opening at $16.96 on Thursday. Before the company went public, it raised money from investors including and , according to Crunchbase.

It鈥檚 the latest in M&A activity involving new-ish public companies. and , for example, announced last week that the companies would merge, with IronSource becoming a subsidiary of Unity. Both companies had gone public within the last two years.

One Medical marks Amazon鈥檚 third acquisition this year, following those of and in April and March, respectively, per Crunchbase data.

This is Amazon鈥檚 first acquisition of a U.S.-based company so far this year. The company鈥檚 last health-related company purchase was Chicago-based which it bought in October 2019, according to Crunchbase.

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