1Life Healthcare Shares Take Flight on Amazon Takeover

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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