Alphabet's Google Google Google has severed its business ties with One Medical, a primary health care provider it acquired. Amazon.com Inc. Amazon $3.9 billion.
what happenedGoogle, once One Medical's largest business client, decided to end its enterprise agreement with the healthcare company following Amazon's acquisition of One Medical last year, Business Insider reported.
The deal, which offered Google employees discounted or free memberships to One Medical and operated One Medical care centers in some Google offices, is set to expire at the end of 2024.
Google was an early backer of One Medical and has been its largest business customer for many years. Until 2020, One Medical disclosed that Google accounted for 10% of its net revenue.
That fell below 10% in 2021, and then after being acquired by Amazon, One Medical stopped disclosing its financial information.
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A Google spokesperson confirmed to the publication that its existing relationship with One Medical will change after 2024, but stressed that the decision has nothing to do with Amazon's new ownership of the healthcare provider.
The spokesperson added that existing One Medical Centers on Google campuses have already transitioned to Premise Health, providing services such as pharmacy, gynecology and coordinated care on-site.
An Amazon spokesperson told Business Insider that Google employees and their dependents will continue to have employer-sponsored OneMedical memberships through the end of 2024.
Why is this important?The end of Google's business relationship with One Medical comes amid major change within healthcare providers.
September, CEO Amir Dan Rubin He stepped down from One Medical after six years of leadership, just over a year after the company was acquired by Amazon.
The leadership change was followed in February by major job cuts as part of cost-cutting measures aimed at saving One Medical $100 million.
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