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Revision as of 23:06, 23 July 2022

Not to be confused with One Medical Group.
One Medical
Nasdaq: ONEM
IndustryPrimary healthcare
Founded2007; 17 years ago (2007), San Francisco, California, United States
FounderTom Lee
HeadquartersSan Francisco, California
Number of locations
180+
Key people
Amir Rubin, (CEO)
RevenueIncrease US$623 million (2021)
Decrease US$−243 million (2021)
Decrease US$−255 million (2021)
Total assetsIncrease US$2.63 billion (2021)
Total equityIncrease US$1.73 billion (2021)
Number of employees
3,090 (Dec 2021)
Websitewww.onemedical.com
Footnotes / references
[1]

1Life Healthcare, Inc. (doing business as One Medical) is a San Francisco-based chain of primary healthcare clinics.[2][3] One Medical is a membership-based primary care service with in-person care and online resources, including a mobile app.[2][4][5]

History

One Medical was founded by Tom Lee in 2007. The company grew from a single San Francisco clinic to more than 72 locations across the United States, including 29 clinics in the greater San Francisco Bay Area.[2][4]

In 2017, Amir Rubin succeeded Tom Lee as CEO of One Medical.[2] In 2018, The Carlyle Group invested $350 million in the company.[3][5] One Medical is also backed by Google's parent company Alphabet Inc.[3][4]

On January 31, 2020, One Medical began trading on the Nasdaq stock exchange.[6][7]

During the early stages of vaccine distribution, One Medical was accused of administering the COVID-19 vaccine to ineligible patients in several states.[8] This resulted in a congressional investigation.[9][10] The Congressional investigation concluded that One Medical sought to use its access to COVID vaccines for financial gain, by pushing those looking for vaccines towards its own paid memberships, and that it provided early access vaccines to those with insider connections at the company.[11]

In September 2021, One Medical acquired Iora Health.[12]

In July 2022, Amazon, Inc. agreed to acquire One Medical for about $3.9 billion in an all-cash deal.[13]

References

  1. ^ "1Life Healthcare Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 23 February 2022.
  2. ^ a b c d Farr, Christina; Sherman, Alex (October 8, 2019). "One Medical, the health clinic chain backed by Alphabet, has hired banks ahead of an IPO". CNBC. Retrieved November 6, 2019.
  3. ^ a b c Truong, Kevin (October 8, 2019). "Google-backed One Medical reportedly gearing up for IPO". San Francisco Business Times. Retrieved November 6, 2019.
  4. ^ a b c Farr, Christina (July 28, 2019). "How tech-infused primary care centers turned One Medical into a $2 billion business". CNBC. Retrieved November 6, 2019.
  5. ^ a b Tozzi, John (March 20, 2019). "Carlyle-Backed One Medical Tackles Costs With Hospital Deals". Bloomberg. Retrieved November 6, 2019.
  6. ^ Shen, Lucinda (January 31, 2020). "On a terrible day for stocks, One Medical sees its stock pop 47% from the IPO price". Fortune. Retrieved February 2, 2020.
  7. ^ "Google-Backed 1Life Healthcare Surges 58% in Trading Debut". Bloomberg.com. 2020-01-31. Retrieved 2020-10-14.
  8. ^ Tim Mak (February 24, 2021). "High-End Medical Provider Let Ineligible People Skip COVID-19 Vaccine Line". NPR.
  9. ^ Tim Mak (March 2, 2021). "One Medical's Coronavirus Vaccine Practices Spark Congressional Investigation". NPR.
  10. ^ Will Feuer (March 2, 2021). "House panel investigates One Medical for allegedly letting rich clients cut Covid vaccine line". CNBC.
  11. ^ "Select Subcommittee Releases Findings From Investigation Into One Medical's Administration Of Coronavirus Vaccines".
  12. ^ 1Life Healthcare, Inc. (September 1, 2021). "One Medical Completes Acquisition of Iora Health". Yahoo! Finance. Retrieved September 16, 2021.{{cite news}}: CS1 maint: numeric names: authors list (link)
  13. ^ Palmer, Annie (July 21, 2022). "Amazon to buy primary health-care provider One Medical for roughly $3.9 billion". CNBC.

External links

  • Official website
  • Business data for 1Life Healthcare, Inc.:
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