1Life attracts a takeover bid from Amazon.com

Article Excerpt

Once again, one of our buys has attracted an acquisition bid—and it’s just the latest of many takeover gains for us over the years. 1LIFE HEALTHCARE $17.13, is now a hold. The company (Nasdaq symbol ONEM; TSINetwork Rating: Extra Risk) (www.onemedical.com; Shares outstanding: 195.8 million; Market cap: $3.4 billion; No dividends paid) is currently the subject of an $18-a-share takeover offer from Amazon. The deal marks a big expansion of Amazon’s push into healthcare, having piloted virtual care visits for its employees in Seattle in 2019. The company then began offering such services to other employers and in other cities under the Amazon Care brand. The news comes just a few months after it announced plans to grow its network of brick-and-mortar clinics in 20 U.S. cities, even as it continues to expand its virtual care services. We’re sorry to see 1Life go—we thought it had a lot of long-term growth potential in store for our subscribers. However, it’s a plus for Amazon, and we’re glad…