Here's What Investors Should Know About Amazon's Potential Acquisition of One Medical

The stock of Amazon (NASDAQ: AMZN) has toppled 20.6% since the start of 2022 in a broader tech sell-off as a response to persistently high inflation and the Fed's interest rate hikes to control it. In recent years, the company has branched out into other businesses apart from e-commerce. One area in particular that the company has been making a lot of noise in of late is healthcare.

Launched in 2019, its Amazon Care segment provides immediate access to a vast array of urgent and primary-care services. Currently, its virtual health services are available nationwide, and it plans to roll out in-person services in more than 20 major U.S. cities throughout 2022.

In late July, the company announced its plan to acquire One Medical, a subsidiary of 1life Healthcare (NASDAQ: ONEM), in an all-cash transaction. If approved, the acquisition will be a milestone in Amazon's journey to becoming a leader in the healthcare arena.

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Source Fool.com