One Medical Closes $65 Million in Financing to Fuel Market Growth
Tech-enabled primary care leader closes latest round of funding, reports strong momentum across individual and employer-based programs
SAN FRANCISCO, Dec. 8, 2015 /PRNewswire/ -- One Medical Group, the national leader in technology-enabled primary care, today announced that it has raised $65 million of growth capital to support accelerated market expansion. The round was led by J.P. Morgan Asset Management on behalf of PEG Digital Growth Fund II L.P. and AARP Innovation Fund L.P. Current and new institutional and individual investors also participated.
The funding news comes after a year of record growth for One Medical – including the addition of over 80,000 new members and expansion of the company's enterprise client base to over 150 organizations, with clients such as Adobe, Airbnb, GoDaddy, Lyft, Percolate, and the Arizona Diamondbacks.
"One Medical is committed to improving the quality, service and affordability of health care," said Tom Lee MD, founder and CEO of One Medical Group. "By using technology and a patient-centered approach, we're able to care for individuals and populations more thoughtfully, while also lowering total health care costs."
In addition to fueling further expansion into other markets nationally, the capital will be used to invest in One Medical's enterprise solutions and mobile technology platform. One Medical already offers same-day appointment booking, prescription renewals, messaging and digital dermatology, and plans to further expand its digital health offering.
About One Medical Group
One Medical Group is the national leader in technology-enabled primary care – focused on improving the quality, service, and affordability of health care for all.
For more information or to become a member at one of our many locations in Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, or Washington, DC, please visit us at onemedical.com.
One Medical Group is affiliated with 1Life Healthcare, Inc., a health care technology and management services company.
Logo - http://photos.prnewswire.com/prnh/20140204/SF58177LOGO
SOURCE One Medical Group
Share this article