With its $3.9 billion (including debt) all-cash takeover of 1Life Healthcare, known to consumers as One Medical, Amazon is making its biggest move into the healthcare industry to date. In an announcement on Thursday, Amazon said it would pay $18 a share for the health tech company, a premium of 77% over its closing price yesterday.

The development did not have a significant impact on Amazon’s stock price. On the news, 1Life shares rose nearly 70%.

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“One Medical” describes itself as a “human-centered, technology-powered U.S. primary care organization.” It offers in-person and virtual care, intending to make healthcare more affordable, accessible, and enjoyable.

With 767,000 members at the end of its most recent quarter, the company has grown by 28% since it was founded in 2002. As of 2022, it expects revenue between $831 million and $853 million and adjusted EBITDA loss between $130 million and $150 million.

The press release did not clarify what Amazon intends to do with One Medical, whether it will fold it into Amazon Care or continue to operate separately.

“We see lots of opportunities to both improve the quality of the experience and give people valuable time back,” said Neil Lindsay, SVP of Amazon Health Services. 

“More people will get better care, when and how they need it, when and through One Medical’s human-centered and technology-powered approach to healthcare. We look forward to fulfilling that long-term mission.”

Human-centered and tech-powered sound a lot like Amazon’s approach.

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There is no guarantee that Amazon will succeed in healthcare after acquiring One Medical, and the company has a mixed track record when it comes to acquisitions.

Since Amazon bought Whole Foods five years ago, supermarket stocks have plunged on the news, and the company has been unable to increase Whole Foods’ market share.

There is a long way to go before Amazon becomes a true disruptor.