FTC Won't Challenge Amazon's Acquisition of 1Life Healthcare, Bloomberg Reports

By Denny Jacob

--The Federal Trade Commission won't challenge Amazon.com Inc.'s acquisition of 1Life Healthcare Inc., which operates a primary-care practice under the name One Medical, a move that will allow the deal to close later this week, Bloomberg reported, citing people familiar with the decision.

--The agency plans to issue a letter to the companies warning them that the investigation remains open despite the statutory deadline for the antitrust review set to expire, the report said.

--Shares of 1Life Healthcare were up 8.4% to $17.86 in after-hours trading, while Amazon was virtually flat.

--The FTC didn't immediately respond to a request for comment from Dow Jones Newswires.

Full story at https://www.bloomberg.com/news/articles/2023-02-21/amazon-s-one-medical-purchase-to-avoid-ftc-challenge?sref=b0us4KbN#xj4y7vzkg

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

02-21-23 1749ET