Amazon (AMZN) introduced as we speak that it could purchase subscription well being care supplier One Medical for $3.9 billion.

The deal marks certainly one of Amazon’s most high-profile pushes into well being care so far. So, why One Medical? To start out, One Medical — which was based in 2007 and focuses on so-called concierge main care — was in the marketplace. The firm had reportedly been fielding takeover curiosity from giants like CVS (CVS).

One Medical’s $199 annual subscription provides 24/7 entry to telehealth providers, same-day appointments, and an app. The corporate had 188 U.S. areas and greater than 750,000 members, as of a Could submitting. The corporate’s focus is on main care and boasts nearly no wait instances, and in its IPO submitting expressed curiosity in transferring into behavioral well being. The Carlyle Group has been certainly one of One Medical’s key buyers, and is reportedly set to exit after Amazon’s acquisition.

One Medical, whose guardian firm 1Life Healthcare trades beneath the ticker ONEM, went public in 2020. The corporate’s shares, as of shut Wednesday, have been down about 44% yr so far. Nevertheless, as of this morning, One Medical’s shares have skyrocketed within the wake of the information of the Amazon deal, up almost 70% in noon buying and selling.

One Medical, ought to the deal shut, will even be certainly one of Amazon’s greatest acquisitions ever, surpassed solely by MGM and Entire Meals — which clocked in at $8.45 billion and $13.7 billion, respectively.

Amazon’s well being care strikes (to date)

Amazon’s efforts to broaden its footprint in well being care stretch again a couple of years, and a few initiatives have been extra profitable than others.

In 2018, the corporate purchased on-line pharmacy PillPack and used that deal to launch “Amazon Pharmacy” the next yr. Amazon additionally partnered with JPMorgan Chase and Berkshire Hathaway on a well being care initiative known as Haven, which shuttered considerably ignominiously final yr.

Nonetheless Huge Tech’s push into well being care has persevered. Apple (AAPL) simply revealed a report outlining its strikes into well being care, and the way it plans to construct on its well being options — from sleep monitoring to step-tracking — and what its partnerships with medical establishments entail.

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Allie Garfinkle is a senior tech reporter at Yahoo Finance. Discover her on twitter @agarfinks.

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