The $3.9 billion acquisition of One Medical (NASDAQ: ONEM) is one of Amazon.com’s (NASDAQ: AMZN) largest acquisitions, to date, and follows the rollout and expansion of Amazon Care in 2021. Through the acquisition, Amazon will have access to One Medical’s nearly 200 locations, increasing Amazon’s ability to provide in-person and digital care that’s accessible and convenient for all. On completion of the transaction, Amir Dan Rubin will remain as CEO of One Medical.
One Medical is a network of primary care clinics offering services such as wellness and prevention, treatment for chronic conditions, mental health services, child care and LGBTQ+ services. 1Life Healthcare, Inc., the parent company of One Medical, offers administrative and managerial services for the affiliated One Medical physician-owned professional corporations. One Medical reported revenue of $623 million for 2021, a 64% increase from 2020 when it posted revenue of $380 million.
In 2018, The Carlyle Group invested $350 million in One Medical. Alongside Amazon’s announcement, The Carlyle Group revealed its exit from One Medical. Earlier this year, the company acquired Orsini Specialty Pharmacy as well as a medical office building in Los Gatos, California.
In addition to The Carlyle Group, other investors include GV, Benchmark, Oak Investment Partners, The Carlyle Group and Maverick Ventures.
This acquisition is the 314th Other Services transaction of the year, with 8 of them in the primary and value-based care subsector, according to the LevinPro HC database. 67 involved public companies such as JLL Income Property Trust (NASDAQ: ZIPTAX) and Alliance Pharma (LON: APH).
