Amazon announced that it's acquiring One Medical, a membership-based US primary healthcare organization for $18 a share in an all-cash transaction valued at about $3.9 billion.
One Medical is the brand of 1Life Healthcare, a Nasdaq-listed company that, as of Wednesday, had a market cap of $1.98 billion according to S&P Global Market Intelligence. The membership model provides 24 hour a day, seven day a week digital services as well as in-office care covered by insurance.
According to One Medical's first quarter results, it had a total membership of 767,000. Its Q1 revenue was $254.1 million, up 109% year over year.
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