Amazon to buy One Medical for $3.9 billion as it expands healthcare footprint
'Striking pay gap:' Top US company CEOs earn this much more than their average employees ReplayMore Videos ... (15 Videos)'Striking pay gap:' Top US company CEOs earn this much more than their average employees See 'Law & Order' star's nude Peloton commercialSee which airports lead the nation in flight cancellations'I'm losing my mind': Chinese depositor loses life savings in bankPeople are revealing their salaries to this TikTok star. Would you?Business professor says that Elon Musk is on the hook for $45 billion'Worse than we anticipated:' CNN reporter breaks down inflation dataAnderson Cooper and William Shatner flip out over new NASA imagesRecession is likely coming. How bad will it be?Child care costs are rising. See how parents are copingThis is how data collected from fertility apps could be used to prosecute abortion Young shoppers love buy now, pay later. Here's why that might be a problemSee a simulation of AI technology being used to prevent a mass shootingElon Musk says Tesla factories are 'losing an insane amount of money'Warren to Powell: Don't drive this economy off a cliff (CNN)Amazon (AMZN) on Thursday said it had entered an agreement to acquire primary healthcare company One Medical in an all-cash deal valued at approximately $3.9 billion.
One Medical is a membership-based primary care service that promises customers "24/7 access to virtual care." The company operates in a dozen major US markets, according to its website. In a statement Thursday announcing the acquisition, Neil Lindsay, senior vice president of Amazon Health Services, said the e-commerce giant thinks "health care is high on the list of experiences that need reinvention." Lindsay added that Amazon hopes to be one of the companies "that helps dramatically improve the healthcare experience over the next several years."The acquisition is just the latest example of the tech giant expanding its footprint in the healthcare industry and thereby adding to its vast reach into the lives of consumers. Amazon acquired PillPack, an online pharmacy, in 2018 and later launched its own digital pharmacy in the United States. Separately, Amazon partnered with JP Morgan Chase and Berkshire Hathaway on an effort to provide better health care services and insurance at a lower cost to workers and families at the three companies, and possibly other businesses, too. That effort, called Haven, shut down last year. Read MoreThe latest deal remains subject to approval from One Medical's shareholders and regulators.Click Here To Get Funded!