M&A · Healthcare · Services-Offices & Clinics of Doctors of Medicine
Amazon.com Inc to acquire 1Life Healthcare Inc
Announced Jul 21, 2022 · Closed Feb 22, 2023
Deal value$3.49BEV $3.56B
Premium117.0%To unaffected price
EV / Adj. EBITDA—4.7x EV / Revenue
ConsiderationAll cash$18.00 per share
Transaction
- Acquirer
- Amazon.com Inc (AMZN)
- Target
- 1Life Healthcare Inc
- Buyer type
- Strategic
- Offer price per share
- $18.00
- Enterprise value
- $3.56B
- Status
- Closed Feb 22, 2023
Deal protections
- Break fee (target pays)
- $136M · 3.9%
- Reverse fee (buyer pays)
- $195M · 5.6%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Morgan Stanley
- Morgan Stanley fee
- $49.0M
Sector context · Healthcare
- Comparable deals
- 53 in the prior 24 months
- Premium
- 117.0% vs. 46.5% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.9% vs. 3.4% sector median
Timeline
- AnnouncedJul 21, 2022
- Proxy filedAug 10, 2022
- Definitive proxyAug 24, 2022
- Shareholder voteSep 22, 2022
- ClosedFeb 22, 2023
Valuation · fairness opinions
Premiums paid$11.59$14.90
Analyst price targets$9.00$17.00
Analyst price targets$7.75$14.75
Offer $18.00
Implied value per 1Life Healthcare Inc share by analysis, from Morgan Stanley · DCF discount rate 12.9%–14%.