M&A Deal Summary

One Medical Acquires Iora Health

On June 7, 2021, One Medical acquired healthcare services company Iora Health from Eight Roads for 2.1B USD

Acquisition Highlights
  • This is One Medical’s 1st transaction in the Healthcare Services sector.
  • This is One Medical’s largest (disclosed) transaction.
  • This is One Medical’s 2nd transaction in the United States.
  • This is One Medical’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2021-06-07
Target Iora Health
Sector Healthcare Services
Buyer(s) One Medical
Sellers(s) Eight Roads
Deal Type Add-on Acquisition
Deal Value 2.1B USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Iora Health

Boston, Massachusetts, United States
Iora Health is a human-centric, value-based primary care group with built-for-purpose technology focused on serving Medicare populations. Iora Health was founded in 2010 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

One Medical

San Francisco, California, United States

Category Company
Founded 2007
Sector Healthcare Services
Employees3,090
Revenue 621M USD (2021)
DESCRIPTION

One Medical is a membership-based reimagining primary care by improving the quality, service, and affordability of care through a technology-enabled model. The company provides service in nine metropolitan regions: Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, Seattle, San Diego and Washington, DC. In addition to its consumer membership model, more than 1,000 companies have added One Medical to their health benefits packages, giving employees unparalleled, integrated access to near-site primary care, 24/7 virtual care and even on-site care that helps them improve population health and decrease overall health care costs. Health systems are now also partnering with One Medical as they acknowledge the value of having high-quality longitudinal, preventative care in their networks. One Medical was founded in 2002 and is based in San Francisco, California.


DEAL STATS #
Overall 2 of 2
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Massachusetts M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-05 Rise Labs

San Francisco, California, United States

Rise Labs is a mobile application that connects directly to a nutritionist for providing coaching and diet tips. Rise Labs was formed in 2013 and is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

Eight Roads

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1969
PE ASSETS 11.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.


DEAL STATS #
Overall 78 of 124
Sector: Healthcare Services M&A 2 of 5
Type: Add-on Acquisition M&A Deals 33 of 59
State: Massachusetts M&A 17 of 29
Country: United States M&A 45 of 67
Year: 2021 M&A 10 of 26
Size (of disclosed) 2 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-26 Singular Genomics

San Diego, California, United States

Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. Its G4 Sequencing Platform is a versatile benchtop genomic sequencer designed to produce fast and accurate results. The company currently developing the G4X Spatial Sequencer, which will leverage its proprietary sequencing technology, applying it as an in situ readout for transcriptomics, proteomics, and fluorescent H&E in tissue, with spatial context and on the same platform as the G4.. Singular Genomics was formed in 2016 and is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 WonderPlanet

Nagoya, Japan

WonderPlanet designs and develops native language applications and games for smart phones and tablets. It provides 2D and 3D games for iOS and android. WonderPlanet was founded in 2012 and is based in Nagoya , Japan.

Sell -