1Life Healthcare Shares Take Flight on Amazon Takeover
July 21 2022 - 10:06AM
Dow Jones News
By Colin Kellaher
Shares of 1Life Healthcare Inc. surged more than 65% in early
trading Thursday after the provider of healthcare membership
services agreed to be acquired by e-commerce giant Amazon.com Inc.
in a deal valued at about $3.9 billion.
Amazon said it would pay $18 a share in cash for 1Life, which
operates a primary-care practice under the name One Medical, a
nearly 78% premium to Wednesday's closing price of $10.18 for the
San Francisco company.
The move marks the latest push into the healthcare space for
Amazon, which in 2018 bought online pharmacy PillPack Inc. and used
it as a springboard to launch its own online pharmacy in 2020.
In early trading Thursday, 1Life shares were changing hands at
$16.92, up 66%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 21, 2022 09:51 ET (13:51 GMT)
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