One Medical goes public: stock price in digital health IPO

• One Medical is set to begin trading Friday after pricing its shares at $14 on Thursday night, raising $245 million.
• The business trades under the ticker “ONEM.”
• One Medical runs primary-care practices that charge a $200 annual cost and also costs your health insurance.
• See Business Expert’s homepage for more stories

One Medical offered 17.5 million shares, raising $245 million in the offering.

Read more: Here are the financiers and execs at One Medical who stand to make the most in the IPO

Courtesy One Medical.

One Medical’s technique to primary care

One Medical was founded by Tom Lee, who served as the company’s CEO till2017 Current CEO Amir Rubin

signed up with One Medical in 2017 after working as an executive at UnitedHealth Group’s Optum division.

When One Medical opened for business in San Francisco in 2007, its goal was to upend the way individuals got medical care by making it easy and practical to see a physician. One Medical had 397,000 members and operated in 77 locations as of September 30, the filing says. For the very first 9 months of 2019, One Medical’s net loss was $342 million.

Read more: I ended up being a member of One Medical, a primary-care practice that charges a $200 yearly fee and has plans to fold the next two years. Here’s what it was like.

One Medical’s leading financiers entering into the IPO consist of The Carlyle Group, which owns 26.8%, Standard Capital, which owns 13%, Oak Investment Partners, Lee, DAG Ventures, GV, JPMorgan, and Radical Fund.

JPMorgan Chase and Morgan Stanley led the IPO.

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