Amazon Completes $3.9B Deal for One Medical as FTC Backs Off for Now
Amazon has completed its purchase of One Medical parent 1Life Healthcare Inc., sealing the $3.9 billion acquisition, including debt, without opposition from the US Federal Trade Commission.
The purchase of One Medical, which runs a chain of more than 150 primary care clinics in more than a dozen US cities and offers online and mobile services, marks another move to healthcare for the tech and retail giant after launching several ventures in the space, including the new Amazon Clinic and the recently shuttered Amazon Care offering for employers.
The Wall Street Journal and Bloomberg reported the FTC wouldn’t block the deal from closing, but the agency would continue its probe. Amazon announced last July plans to buy One Medical for $18 per share in an all-cash transaction, and disclosed it was under review by the FTC two months later.
FTC spokesman Douglas Farrar said in a statement that the investigation into this acquisition is ongoing, and “The commission will continue to look at possible harms to competition created by this merger as well as possible harms to consumers that may result from Amazon’s control and use of sensitive consumer health information held by One Medical.”
Amazon has been delving into other aspects of healthcare for several years. The company purchased digital pharmacy PillPack in 2018 for $750 million, and it launched Amazon Pharmacy in 2020.