Trustbusters may have finally discovered their eyes are bigger than their stomachs. The U.S. Federal Trade Commission said it won’t challenge Amazon.com’s $3.9 billion acquisition of physician network One Medical. As the deal moves forward, deal-hungry technology giants can take a small breather.
The agency may be picking its battles more carefully, however. One Medical’s revenue accounted for just 0.2% of all U.S. healthcare spending in 2021, according to Amazon. Its own presence in the market is even smaller. Proving the deal was anticompetitive would have been tough.
And while the FTC’s concerns about Big Tech seemed limitless, its resources aren’t. Letting the One Medical deal move forward frees up staff to focus on ones that pose a clearer threat to consumers. Only some acquirers can rest easier.
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