Amazon closes deal to buy primary care provider One Medical

Amazon on Wednesday speak it closed a $3.9 billion deal for primary care provider One Medical.

Amazon agreed in July last year to acquire One Medical to strengthen its presence in the healthcare sector and “significantly improve” the medical care experience. Amazon has long had ambitions to expand into the healthcare sector, buying drugs online PillPack 2018 for $750 million, then launched its own telehealth service and Prescription perks for Prime members.

This is the first major deal announced since CEO Andy Jassy took the helm from founder Jeff Bezos. in July 2021and Jassy have said he sees healthcare as a major expansion area. In a statement, he said healthcare was ripe for disruption, citing long appointment times and the complexity of primary care.

“Customers want and deserve better, and that’s what One Medical has been striving for and innovating for over a decade,” Jassy said in a statement. “Together, we believe we can make the healthcare experience easier, faster, more personal, and more convenient for everyone.”

The closure comes after a deadline was passed for the Federal Trade Commission to challenge the deal. The acquisition has come under scrutiny by the FTC over the past few months. Last September, the agency sent Amazon and One Medical a so-called “second request” for more information about the deal, according to the report. stock records.

by Amazon 8.5 billion USD deal for MGM studios also overcame regulatory hurdles last March. The company still faces an ongoing FTC investigation into main programas well as its online marketplace.

FTC President Lina Khan is one of Amazon’s biggest critics. She made her first big splash in antitrust circles with her 2017 Yale Law Review article.”Amazon’s Antitrust Paradox.” The article, which she wrote as a law student, argued that the popular antitrust framework focused on consumer welfare was not enough to judge digital giants like Amazon.