Amazon has been trying to move into the medical industry as it looks for new markets to expand to. Looking to offer medical care both in person as well as virtually over your phone. However, it seems to have been having trouble trying to compete with the companies that have already established a foundation and are now closing the doors on Amazon Care.
This is despite the company’s announcements that were made earlier in the year about looking to expand these services to additional locations around the US. Instead, its focus has been redirected toward doing what it does best when it can’t do it themselves. That is, looking for a company that is already established that it could simply acquire (purchase) for an easy push forward.
Amazon has its eyes on “One Medical” for this exact purpose, as well as additional companies like Signify Health. Making sure it has options lined up in case any bids for purchase are turned down. Buy purchasing one of these companies, it would significantly increase the amount of customers Amazon will suddenly have compared to what it has gained thus far with its current program. Allowing the company to move on toward larger goals.
Meanwhile, Amazon Care will close its doors officially at the end of 2022. At which time, all related services will no longer be available.
One more industry for the giant to buy its way into. In case you were wondering what was next when it comes to potential triggers for raising its stock value now that the retail industry is rebounding from the boom caused by the pandemic.
Update 09/02/2022:
An agreement was reached between Amazon and One Medical for $3.9 billion. One Medical is set to take over for Amazon’s failing Amazon Care service. However, both companies are now under investigation by the FTC as any concerns of anti-trust are reviewed, delaying the merger for the time being. The outcome of the investigation will spell the final results of the acquisition.
