Amazon to buy primary care provider One Medical for $3.49 billion.
In 2019, the online retailer piloted virtual care visits for its own employees in Seattle before expanding to other employers under the Amazon Care brand.
It also purchased online pharmacy PillPack in 2018, which served as the foundation for a prescription delivery and price-comparison website that it later launched.
According to its website and recent financial results, Amazon is acquiring One Medical, a loss-making company with 767,000 members and enterprise clients such as Airbnb Inc and Alphabet Inc's Google, which offer its services as a benefit to employees.
Teladoc Health Inc, a larger rival, has more than 54 million paying members in the United States and more than double One Medical's quarterly revenue. Shares of Teladoc, as well as drugstore retailers CVS Health Corp and Walgreens Boots Alliance Inc, fell between 0.3 and 1.8 percent in response to the Amazon deal.