after it was Rumored to be in the game earlier this month, it shouldn’t come as a huge surprise One Medical has found a new home. After a hot IPO, the American consumer healthcare and technology company had fallen below its IPO price and it was an obvious target for the right buyer.
But after CVS left the table, it wasn’t a healthcare company that snagged the former venture darling, nor was it transformed into a platform by private equity. Instead, Amazon snapped up a deal valued at around $3.9 billion. At $18 per share, One Medical exits the public markets with a price tag higher than when it went public — a kind of win for the unprofitable company.
But what should we think of the Amazon deal? we reported the news on TechCrunchand TechCrunch+ has been digging around into what the smaller company could offer its new parent company, so we’ve gathered to share a few more thoughts on the subject.
Walter Thompson: Amazon is the black hole created by the death of Main Street retail
The CEO of One Medical said Amazon’s acquisition of his company is “an opportunity to transform healthcare and improve outcomes.” But I interpreted the upcoming $3.9 billion purchase as a bright, blinking sign that the world’s largest retailer is not afraid of regulatory oversight or interference. Amazon has gone beyond revenue generation: At this point, the company exists primarily to amass additional mass.
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