Alphabet-backed primary care startup One Medical files to go public

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One Medical , a San Francisco-based medical care start-up with tech-infused, concierge services applied for an IPO with the Securities and Exchange Commission today.

Internal medication physician Tom Lee established the start-up, now valued at well-over $1 billion dollars, in 2007. Lee left his business in 2017, leaving it in the hands of previous UnitedHealth group executive Amir Rubin.

The start-up presently runs 72 health centers in 9 significant cities throughout the U.S., with 3 more markets anticipated to open in 2020 and has actually raised simply over $500 million in equity capital from it’s greatest financier, the Carlyle Group (which owns simply over a quarter of shares), Alphabet’s GV, J.P. Morgan and others. Google likewise integrates One Medical into its schools and represent about 10% of the business profits, according to the SEC filing. The filing likewise discusses the business, which is formally integrated as 1Life Healthcare Inc. ONEM, now prepares to raise about $100 million.

Presumably, this cash will assist the business surpass its innovation and broaden to more markets. We’ve connected to One Medical for more therefore far have actually just been described its wire declaration .

According to that declaration, One Medical has actually made an application for a listing as ticker sign, ONEM under its typical stock on the Nasdaq Global Select Market. When we hear more, we’ll be sure to upgrade you if and.

Read more: https://techcrunch.com/2020/01/03/alphabet-backed-primary-care-startup-one-medical-files-to-go-public/

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