Seattle-based Amazon on Thursday announced its purchase of established primary health care provider One Medical.

The deal reportedly cost Amazon $3.9 billion in cash ($18 per share / $76.8 premium).

This would make it the third-largest acquisition in Amazon’s history: In 2017 it bought upscale grocery chain Whole Foods for $13.7 billion (€13.44) and earlier this year it paid $8.5 billion for MGM Studios in Hollywood.

“We think health care is high on the list of experiences that need reinvention,” said Neil Lindsay, senior vice-president of Amazon Health Services.

News of the deal negatively affected established companies in the health care sector — shares of the market leader Teladoc Health fell by 8% and those of drug retailers CVS and Walgreens fell by 2% each.

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