Shares of Amazon rose more than 1% in premarket trading.




AMZN -0.33%

com Inc. has agreed to buy

1Life Healthcare Inc.,

ONEM 66.70%

which operates a primary-care practice under the name One Medical, for $3.9 billion, including debt, the retailing giant’s latest foray into the healthcare space.

Amazon on Thursday said it is paying $18 a share in cash for the San Francisco-based 1Life Healthcare. Amazon said the total deal value includes One Medical’s debt.

One Medical is a membership-based primarycare practice with offices in 12 major U.S. markets, according to its website. It offers healthcare service in person and provides access to virtual care as well. It works with more than 8,000 companies to provide One Medical health benefits to their employees.

“We think health care is high on the list of experiences that need reinvention,” said Neil Lindsay, senior vice president of Amazon Health Services. “We see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.”

Once the deal closes, One Medical Chief Executive

Amir Dan Rubin

will remain as CEO of the business.

Shares of Amazon rose more than 1% in premarket trading to $124.40 a share. One Medical stock was halted ahead of the news.

The deal price marks a roughly 77% premium, based on where shares of One Medical closed on Wednesday.

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Leave a Reply

Your email address will not be published. Required fields are marked *