Amazon to buy primary care company One Medical in $3.9bn deal

Amazon has agreed to buy One Medical in a $3.9bn cash deal.

Under the terms of the acquisition, Amazon will pay $18 per share for primary care company One Medical.

Neil Lindsay, senior vice president of Amazon Health Services, said: "We think health care is high on the list of experiences that need reinvention.

"Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy - we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days.

"We love inventing to make what should be easy easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years."

Shares of One Medical’s parent, 1Life Healthcare, shot up 67% in pre-market trade to $16.98.