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Iora Health (acquired by One Medical)

Iora Health is a direct primary care provider mainly focused on serving seniors aged 65 and up. Members receive around-the-clock access to primary care services including in-person and online consultations, mental health services, wellness programs, health coaching, and remote patient monitoring as a part of its membership plan. Its team-based approach where health coaches, nurses, and mental health specialists support physicians to improve engagement with patients and help execute personalized health plans. The company has also developed a proprietary collaborative care platform and electronic health record system known as Chirp, which can generate patient information and share them with specialists and non-Iora providers as required. As of May 2021, the company served 38,000 members across 10 markets in the US.

The company charged USD 60 to USD 200 per month per member as of October 2015. By 2017, seven years after the launch, Iora claims to have brought down hospitalizations for its members by 40% and reduced total healthcare spend among members by 15%. In February 2020, the company raised USD 126 million in a Series F funding round, bringing the total funding to USD 349.3 million. In 2020, the company reported a revenue of USD 213 million and an adjusted EBITDA loss of USD 14 million. The company's revenue outlook for 2021 ranged between USD 465 million and USD 485 million.

In September 2021, One Medical completed the acquisition of Iora Medical for a total consideration of USD 2.1 billion. One Medical shareholders own roughly 73% of the company and Iora Health shareholders have 27% of the joint company.

Company Brief


HQ location:
Boston, MA
Founded year:
2010
Employees:
501 - 1000
Total Funding:
USD 349.3 million

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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