Posted on 07/22/2022 10:40:25 AM PDT by ShadowAce
Amazon is acquiring One Medical, a company operating a chain of primary care clinics, for $3.9 billion in an all-cash deal, as it ramps up efforts to expand its consumer healthcare offerings.
Amazon announced it was gobbling up the biz and all its data for $18 a share on Thursday; the final cost includes paying off One Medical's debts.
"We think health care is high on the list of experiences that need reinvention," Neil Lindsay, SVP of Amazon Health Services, said in a canned statement.
"Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy – we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.
"We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years. Together with One Medical's human-centered and technology-powered approach to health care, we believe we can and will help more people get better care, when and how they need it. We look forward to delivering on that long-term mission."
One Medical offers members in-person and virtual care with physicians. Patients stay connected via an app, where they can book appointments, chat with their doctors, and store their healthcare records. The company, which trades as 1Life Healthcare, was founded in 2007. It opened its first clinic in San Francisco, California, and now operates over a hundred primary care centers in 12 states.
Amazon, best-known for its e-commerce platform and delivery services, sees healthcare as another sector to conquer for its consumer-focused empire. In 2018, it snapped up PillPack, an online pharmacy biz, and launched Amazon Pharmacy two years later to deliver prescription medicines. In 2019, it acquired Health Navigator, a software startup to support Amazon Care, a healthcare service for employees.
Now, it wants to expand its platform to consumers with the help of One Medical. "The opportunity to transform health care and improve outcomes by combining One Medical's human-centered and technology-powered model and exceptional team with Amazon's customer obsession, history of invention, and willingness to invest in the long-term is so exciting," One Medical's CEO Amir Rubin, said.
Rubin is expected to remain in his role as CEO when the deal closes. "There is an immense opportunity to make the health care experience more accessible, affordable, and even enjoyable for patients, providers, and payers. We look forward to innovating and expanding access to quality healthcare services, together," he added.
On the flip side, you might agree with tech world watcher, and venture capital person, Benedict Evans, who reacted bluntly: "I do not see any strategic logic to Amazon getting into healthcare clinics." ®
Globalist and elitist Bezos knows what is too come and he is looking to profit off it. Bet. Same for Gates, etc., etc.
Storm is coming brothers and sisters.
Smart move. Guaranteed demand and profit and nice synergies.
Big tech keeps getting more and more powerful with huge Cash inflows
“Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy – we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.”
In the past year, we lost a SIL, who was unable to see her doctor and even to get routine tests. She ended up with acute adult onset of leukemia and died in a hospice 60 days after finally getting the standard lab tests.
We almost lost a brother due to Covid B$ interfering with a stroke. Fortunately his wife’s sister is a good RN and got in the face of the mistreatment of a stroke and no real Covid. He came home from the hospital and got back into care with his primary IM. Now he needs a new knee.
My wife needed a new hip and finally after 6+ months of painful delay, she got her new hip is doing well 4+ months post implant.
One woman on my wife’s prayer chain, had a needed cardiac operation cancelled due to her doctor getting Covid. She was within 30 minutes from the hospital when she got the message that her surgery was cancelled. She is back on line for Aug/Sep..
A year ago, my 2nd toe on my right foot was overlapping my big toe. Due to covid B$, my podiatrist was not able to schedule my toe removal. So he lopped it off in the office, and my wife drove me home minutes later. I’m doing fine now.
My wife had cataract surgery and last summer, she was getting floaters in both eyes. Again due to Covid B$, they couldn’t schedule her for a hospital visit. Her eye doc used a laser on both eyes in the clinic office. I got her to our car and drove her home after getting some antibiotic drops from the clinic pharmacy. In a few days she had 20/20 vision and still had problems with her hips. She finally got hip surgery the first week in March of this year.
So I get free visits with prime?
Some important dude at Amazon put out a canned statement, that heathcare is “... high on the list of experiences that need reinvention.”
You just have to laff, and laff, and laff.
I think most people who have had to deal with medical billing departments just finally say, “Whatever.”
Then they pay the amount indicated. Or maybe they don’t.
On balance I think lots of amounts get paid by patients which are not legally due.
These thoughts are based on personal experiences going back to the 1980s.
And as bad as it is for as long as it has been this bad, most of the big players seem to be fine with the situation.
Maybe it works the way they want it.
Nice, If your body rejects the transplant, drop it off at Kohl’s and get a refund.
Yes, this is messed up.
woder if the amazambulances will be the same battleship gray color as their other delivery trucks...
The United States of Amazon.
I feel so reassured by this AMZ exec telling me all of this.
NOT.
This should be illegal under antitrust laws. The globalist wish to control the entire system. Then they can do things like globally refuse to treat you if you don’t have shot or if you do or say something they don’t like. In the end the entire system will owned by only a few.
“technology powered”
AI chip
6 6 6
☑️
6 6 6
After about a 15 minute exam, they fitted her for a crutch and put on a cast. They asked us to wait while they looked at our insurance information and collected roughly a $4 co-pay. As we were getting ready to leave, a lady from a pharmacy about a block away arrived on a bicycle, gave her some medication and collected a 300 yen co-pay on the insurance information that the clinic phoned in. I must say that I was impressed!
THIS will Not end well.
I am waiting 8 weeks to see my primary care doctor for high blood pressure. I have resorted to taking my cat’s heart medication.
I have resorted to taking my cat’s heart medication.
Hopefully, that'll get the old ticker purring right along.
“Amazon Health”
Guess when they start doing abortions, I can’t use them anymore.
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