The big news of the morning is that Amazon is buying One Medical, a former venture-backed consumer healthcare company with a tech twist, in a cash deal worth $3.9 billion including debt. The announcement follows recent reports that One Medical was in the game.
So it’s no surprise that One Medical is being taken off the table, but that Amazon is the acquiring entity is a bit more of a shock. What will the company get for its billions, how does the purchase fit into its overall business, and what does the deal mean for startups?
The Exchange explores startups, markets and money.
Read it every morning on Marketingwithanoy+ or get The Exchange’s newsletter every Saturday.
Remember that Amazon has been making strides in healthcare for quite some time now. In 2018, the parent company of AWS bought PillPack, a consumer-focused online pharmacy, and previously teamed up with Berkshire Hathaway and JPMorgan to revamp U.S. healthcare, but that effort was watered down.