Amazon.com has agreed to acquire One Medical, a primary care provider owned by Caryle Group for for $18 a share, in an all-cash deal that values the company at $3.49 billion, according to a report by Private Equity Insights.
Amazon.com has agreed to acquire One Medical, a primary care provider owned by Caryle for for $18 a share, in an all-cash deal that values the company at $3.49 billion, according to a report by Private Equity Insights.
The acquisition of One Medical, which operates 182 medical offices in 25 markets in the US, is the latest move by the online retail giant into the healthcare market and its third-biggest acquisition to date, behind deals for organic grocer Whole Foods Market and film studio Metro-Goldwyn-Mayer.
One Medical’s customers pay a subscription fee for access to the firm’s physicians and round-the-clock digital health services.
Completion of the transaction is subject to customary closing conditions, including approval by One Medical’s shareholders and regulatory approval. On completion, chief executive officer Amir Dan Rubin will continue to run One Medical.
