One Medical Agrees to Acquire Iora Health in $2.1 Billion Transaction

San Francisco – June 9, 2021 – Cooley advised One Medical, a human-centered and technology-powered primary care organization, on its agreement to acquire Iora Health in an all-stock transaction valued at approximately $2.1 billion. Lawyers Steve Tonsfeldt, Matthew Hemington, David Silverman and Matthew Silverman led the Cooley team advising One Medical.

Together, One Medical and Iora Health will expand their models in existing markets, enter new markets, serve new populations, expand full-risk models and leverage their purpose-built technologies for increased growth and scale.

“We are delighted to announce plans to combine with Iora Health, a technology-powered primary care leader delivering outstanding member-based, value-based care for adults 65+ enrolled in Medicare Advantage and other at-risk reimbursement models,” Amir Dan Rubin, chair and CEO of One Medical, said in a news release. “Together, we will expand our addressable market to serve more members in more geographies with digital and in-person care across every stage of life, with further capabilities to deliver care within full-risk models.”

One Medical is a membership-based primary care platform with seamless digital health and inviting in-office care, convenient to where people work, shop, live and click. The company’s vision is to delight millions of members with better health and better care while reducing costs, with a mission to transform healthcare for all through its human-centered, technology-powered model.

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