By Dave Muoio, September 6, 2022
The Federal Trade Commission is reviewing Amazon’s $3.9 billion acquisition of primary care provider One Medical, according to Securities and Exchange Commission filings reported Friday.
Both companies have received a request from the FTC for “additional information and documentary materials … in connection with the FTC’s review of the Merger,” according to the SEC filings.
The FTC will consider the additional information alongside the notification and other report forms initially submitted to the regulator and the Department of Justice’s Antitrust Division on Aug. 3, per the filings. The request also extends the companies’ mandatory waiting period by another 30 days.
“Both parties expect to promptly respond to the Second Request and to continue to work cooperatively with the FTC in its review of the Merger,” One Medical wrote in the SEC filings.
Amazon announced its $18-per-share purchase of One Medical in July. The news had followed weeks of selloff rumors for the concierge primary care company, which had gone public at $14 per share in January 2020, skyrocketed up to $58 per share in early 2021 and then spent much of 2022 in the $7-$11 range.
