Although the pandemic has shined a light on numerous inadequacies in the U.S. healthcare system, from high care costs to staffing shortages, it’s also led to the creation of several solutions working to solve these challenges. One such platform is One Medical, a San Francisco-based primary care organization offering digital health services. In a new merger, the company is joining forces with one of the world’s biggest tech giants.
One Medical is tapping into the global reach and customer commitment of Amazon. The two companies signed a definitive merger agreement under which Amazon will acquire One Medical for $18 per share in an all-cash transaction valued at about $3.9 billion.
Working to improve the patient experience of quality healthcare, One Medical provides access to in-person, digital and virtual care services. Its platform aims to make it easier for patients to schedule appointments, renew prescriptions, access up-to-date health records and improve their health outcomes.
“We love inventing to make what should be easy, easier, and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years,” Neil Lindsay, SVP of Amazon Health Services, said in a statement. “Together with One Medical’s human-centered and technology-powered approach to healthcare, we believe we can and will help more people get better care, when and how they need it. We look forward to delivering on that long-term mission.”
The companies will join forces to streamline the patient experience. For instance, the process of booking an appointment and sometimes waiting months for the date to arrive is an area for improvement, according to Lindsay. On top of this, patients have to take time off work to travel to a clinic where they wait for what is often a fleeting visit from the actual doctor. Afterward, they’re sent on another trip to the pharmacy. One Medical and Amazon hope to remedy these pain points through modern healthcare technology.
“There is an immense opportunity to make the healthcare experience more accessible, affordable and even enjoyable for patients, providers and payers,” Amir Dan Rubin, One Medical CEO, said in a statement. “We look forward to innovating and expanding access to quality healthcare services, together.”
When the merger is complete, Rubin will retain his position as One Medical’s CEO.
