The big bet: Can retail pharmacy chains remake themselves into healthcare providers?

America’s retail pharmacies have spent years inching into the business of providing medical care, but a number of billion-dollar deals in 2022 cemented that interest — and with that, the race for market share is on.

Amazon kicked off the year’s activity with its planned acquisition of direct-primary-care provider One Medical, which trades under the name 1Life Healthcare Inc. ONEM, for $3.9 billion. Humana and the private-equity firm Welsh, Carson, Anderson & Stowe poured an additional $1.2 billion into a venture that plans…

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