![]() ![]() "We think health care is high on the list of experiences that need reinvention," said Neil Lindsey, SVP of Amazon Health Services, adding that Amazon sees "lots of opportunity to both improve the quality of the experience and give people back valuable time in their days." Will this be a 'catalyst' for health care expansion by tech companies?Īccording to STAT+, many of Amazon's competitors view its recent acquisition of One Medical as "a catalyst for health care expansions." Ultimately, Amazon reached a deal to buy One Medical on July 20. Later, CVS pulled out of the deal after Bloomberg leaked the news.Īmazon eventually went through with its own deal with One Medical, with a stipulation that it would end the talks if its interest was leaked like CVS' had been. In fact, CVS in June had also offered to pay $18 a share for its deal, but later voiced concerns about moving at an "expedited paced," Bloomberg reports. According to Bloomberg, CVS Health originally approached One Medical about a deal in October 2021 and was a contender for a purchase up until a few weeks before Amazon reached its own deal. However, Amazon was not the only company that had been in talks with One Medical. This acquisition marks Amazon's latest efforts to expand into the health care industry. In July, Amazon announced a deal to buy One Medical, a primary care company owned by 1Life Healthcare, for $18 a share, or approximately $3.9 billion, including the company's net debt. Amazon was not the only one in talks for One Medical ![]() Going forward, acquiring primary care and other health-related companies may result in fierce bidding wars as more corporations seek to expand into health care. Amazon recently agreed to purchase One Medical in a multi-billion-dollar deal, but it wasn't the only company that was interested. ![]()
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