Science

#FTC investigating Amazon’s $3.9B purchase of One Medical

“FTC investigating Amazon’s $3.9B purchase of One Medical”

FTC investigating Amazon's $3.9B purchase of One Medical
An Amazon logo appears on an Amazon delivery van in Boston, Oct. 1, 2020. The Federal Trade Commission is investigating Amazon’s $3.9 billion acquisition of the primary health organization One Medical, a move that could delay the completion of the deal. According to a regulatory filing, both One Medical and Amazon received a request for additional information on Friday, Sept. 2, 2022, in connection with an FTC review of the merger. Credit: AP Photo/Steven Senne, File

The Federal Trade Commission is investigating Amazon’s $3.9 billion acquisition of the primary health organization One Medical, a move that could delay the completion of the deal.

Both One Medical and Amazon received a request for additional information Friday in connection with an FTC review of the merger, according to a filing made with securities regulators by One Medical’s parent, San Francisco-based 1Life Healthcare Inc.

Amazon announced plans in late July to buy One Medical, a concierge-type medical service with roughly 190 medical offices in 25 markets. Last week, the e-commerce giant said it would shutter its own hybrid virtual in-home care service called Amazon Care, a One Medical competitor, because it wasn’t meeting customers’ needs.

The One Medical deal, the first to be announced under CEO Andy Jassy, was another push into healthcare for Amazon following its acquisition of the online pharmacy PillPack for $750 million in 2018. Groups calling for stricter antitrust regulations quickly urged the FTC to block the merger, arguing it would further expand the company’s massive market power.

An Amazon spokesperson declined to comment.

The FTC has already been investigating the sign-up and cancellation practices of Amazon Prime and has issued civil subpoenas in that case.

Last year, the company asked unsuccessfully that FTC Chair Lina Khan step aside from separate antitrust investigations into its business, arguing she would be biased. Khan was notable critic of Seattle-based Amazon and other Big Tech companies prior to assuming the chairmanship. As a Yale law student in 2017, she wrote an influential study titled “Amazon’s Antitrust Paradox.”


Amazon to shutter virtual health care service Amazon Care


© 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Citation:
FTC investigating Amazon’s $3.9B purchase of One Medical (2022, September 3)
retrieved 4 September 2022
from https://techxplore.com/news/2022-09-ftc-amazon-39b-medical.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.

For forums sites go to Forum.BuradaBiliyorum.Com

If you want to read more Like this articles, you can visit our Science category.

Source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Please allow ads on our site

Please consider supporting us by disabling your ad blocker!