Amazon has closed its $3.9 billion acquisition of primary care company One Medical, the tech giant said Wednesday.
The announcement comes after multiple news outlets reported late Tuesday that the Federal Trade Commission declined to block the deal between the two companies after a five-month review that began in September. The deal was announced in July.
However, the FTC said Wednesday it will continue to look at the combination.
“The FTC’s investigation of Amazon’s acquisition of One Medical continues,” said spokesperson Douglas Farrar. “The commission will continue to look at possible harms to competition created by this merger as well as possible harms to consumers that may result from Amazon’s control and use of sensitive consumer health information held by One Medical.”
One Medical offers virtual and brick-and-mortar primary care services to commercially insured patients.
Acquiring One Medical is one of multiple moves Amazon has made in healthcare in the last year. In January, the company launched a generic drug subscription service aimed at consumers with common conditions like high blood pressure, acid reflux or anxiety. In November, it created Amazon Clinic, which serves as a “virtual health storefront” offering users access to third-party telehealth providers in November 2022.
One Medical’s CEO Amir Dan Rubin plans to stay on after the transaction.
This is a developing story and will be updated.