Amazon.com Inc. is planning to buy One Medical, a primary health care provider, in a takeover that would expand the e-commerce giant’s presence in the health care market.
Both companies have entered a “definitive merger agreement” indicating that Amazon will acquire One Medical—comprising 1Life Healthcare Inc., the administrative arm of the company, and the affiliated health care providers—for $3.9 billion, according to a July 21 news release.
Amazon will pay $18 per share in the all-cash transaction and will also acquire One Medical’s net debt (the debt remaining after subtracting the company’s assets).
Once the companies have the necessary regulatory approval and the merger gets the green light from One Medical’s shareholders, the transaction will be complete. One Medical CEO Amir Dan Rubin is slated to remain in his post after the deal….