FTC investigating Amazon’s $3.9B purchase of One Medical

NEW YORK (AP) — The Federal Trade Commission is investigating Amazon’s $3.9 billion acquisition of the first well being group One Medical, a transfer that might delay the completion of the deal.

Both One Medical and Amazon acquired a request for added info Friday in reference to an FTC assessment of the merger, in response to a submitting made with securities regulators by One Medical’s mum or dad, San Francisco-based 1Life Healthcare Inc.

Amazon introduced plans in late July to purchase One Medical, a concierge-type medical service with roughly 190 medical places of work in 25 markets. Last week, the e-commerce big stated it could shutter its personal hybrid digital in-home care service known as Amazon Care, a One Medical competitor, as a result of it wasn’t assembly prospects’ wants.

The One Medical deal, the primary to be introduced below CEO Andy Jassy, was one other push into healthcare for Amazon following its acquisition of the web pharmacy PillPack for $750 million in 2018. Groups calling for stricter antitrust laws rapidly urged the FTC to dam the merger, arguing it could additional broaden the corporate’s huge market energy.

An Amazon spokesperson declined to remark.

The FTC has already been investigating the sign-up and cancellation practices of Amazon Prime and has issued civil subpoenas in that case.

Last yr, the corporate requested unsuccessfully that FTC Chair Lina Khan step except for separate antitrust investigations into its enterprise, arguing she could be biased. Khan was notable critic of Seattle-based Amazon and different Big Tech firms previous to assuming the chairmanship. As a Yale legislation pupil in 2017, she wrote an influential research titled “Amazon’s Antitrust Paradox.”

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