One Medical, a tech-based primary care medical group, is in growth mode. One investor says the company, valued at nearly $2 billion, could be "the Starbucks of primary care," according to CNBC.
Five things to know about One Medical:
1. San Francisco-based One Medical, which provides on-demand primary care, has sold its services to several big companies. Space X and Google are among the more than 4,000 employers that One Medical says offers its services as a perk to employees, according to CNBC.
2. One Medical has an annual membership fee of $199 and has 72 clinics in seven states.
3. One Medical President and CEO Amir Dan Rubin told CNBC the company is focused on expanding into new areas, including Atlanta and Portland, Ore., and adding new services.
4. The company is partnering with health systems. Atlanta-based Emory Healthcare announced a partnership with One Medical on July 25.
5. The company has raised more than $400 million, including $220 million in a funding round led by Carlyle Group in 2018. "You wouldn't think a firm like us would invest in a venture-style company that still loses money," Steve Wise, a One Medical backer from Carlyle, told PE Hub in an interview cited by CNBC. "But it's a space we know well and we believe in. We want to be the Starbucks of primary care."
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