Regulatory Filing Shows Bidding War Between Major Retailers Over One Medical

Major retailers have increasingly eyed tech-enabled care providers for M&As in recent years, as typified by Amazon’s recent purchase of One Medical. A recent regulatory disclosure shows that another big retailer was vying for the company, CVS. The pharmacy giant had been in discussions with One Medical as early as October of last year.

According to Heather Landi, “Earlier this year, company executives discussed the need to raise more capital with a target of raising an additional $300 million by the end of 2022. But executives also acknowledged the current market conditions and the hefty challenges of securing funding on a potential capital raise of that size, the SEC document says.”

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(Source: Fierce Healthcare, August 17th, 2022)