Which primary care company did Amazon acquire for $3.9 billion in 2022?

Amazon agreed to acquire the primary-care company One Medical for approximately $3.9 billion.

The deal was announced in July 2022 as an all-cash transaction involving One Medical’s parent company, 1Life Healthcare. One Medical operated membership-based primary-care practices, combining in-person clinics with digital tools such as video visits, online scheduling, and a mobile app. Amazon viewed the acquisition as a way to expand its healthcare ambitions beyond pharmacy and telehealth experiments.

One Medical began in San Francisco in 2007, founded by physician Tom Lee. It grew into a nationwide network of clinics and became publicly traded on Nasdaq in 2020. Before Amazon’s agreement, the company had also attracted investment from Alphabet’s parent company and acquired Iora Health, which focused on primary care for older adults.

A common timing mix-up is that Amazon announced the purchase in 2022 but formally completed it on February 22, 2023, after regulatory review. Amazon later offered discounted One Medical memberships to Prime customers, connecting the healthcare service more directly to its subscription ecosystem.