Amazon to buy One Medical in $3.5 bln cash deal

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Amazon.com Inc on Thursday said it would buy One Medical for $3.49 billion in an all-cash transaction.

The deal heralds a dramatic expansion of the online retailer’s push into healthcare, having piloted virtual care visits for Amazon employees in Seattle in 2019 before offering such services to other employers and in other cities under the Amazon Care brand.

“We think health care is high on the list of experiences that need reinvention,” said Neil Lindsay, senior vice president of Amazon Health Services.

The deal is subject to regulatory approval and the green light from One Medical shareholders. (Reporting by Manas Mishra in Bengaluru and Jeffrey Dastin in New York Editing by David Goodman )