Amazon to buy primary health care provider One Medical for roughly $3.9 billion

Andy Jassy, chief executive officer of Amazon.Com Inc., speaks during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021.

The primary health care provider will be acquired by Amazon for $18 a share in an all-cash deal.

Neil Lindsay, senior vice president of Amazon Health Services, said in a statement that by acquiring One Medical, Amazon hopes to redefine the healthcare experience from how people book appointments to the experience of being seen by a doctor.

Lindsay said there are lots of opportunities to improve the experience and give people more time in their lives. We want to be one of the companies that will help dramatically improve the healthcare experience over the next several years.

The CEO of One Medical said in a statement that there is an opportunity to make the health care experience more accessible, affordable and enjoyable.

Following the announcement of the deal, shares of One Medical's parent skyrocketed in premarket trading. The stock of Amazon increased in value.

One Medical went public in 2020 and has a network of boutique primary care practices. According to a securities filing, it has grown to oversee almost 200 medical offices in 25 markets.

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