Alphabet-backed One Medical has reportedly announced that it has secured an amount of $350 million in a funding round. This round was led by the Carlyle Group.
The company is planning to utilize these funds in an aggressive expansion plan for the company, which will include doubling its 72 offices throughout the seven states. One Medical, at present, is serving and expanding into new markets. The markets have yet not been clarified but they will soon be finalized.
Along with this, the funds will also assist the company in taking on dinosaur incumbents in the medical field as well as newer startups with a similar technology offering such as Forward, an AI-based “medical office of the future.”
“From the time of our founding by Dr. Tom X Lee, we have been on a mission to create an entirely new kind of primary care experience – one that starts with people. We call this real-life care. Through our incredible clinical team, technology platform and inviting and accessible medical offices, we simplify the complex world of care for members every day. We believe that no detail is too small to make health care more effective, efficient and dare we say, enjoyable. Our latest plans are to bring this unique One Medical experience to more consumers and companies across the country and add fuel to our aggressive growth plans,” said One Medical CEO Amir Dan Rubin.
Prior to this, the funding rounds included investors like Benchmark Capital, Google Ventures, Maverick and JP Morgan. This investment will help to reach more and more customers and employers.
One Medical started out as a direct-to-consumer model and now is a members-only technology platform that offers a range of concierge medical services, including same-day scheduling, virtual doctor visits and reminders for important checkups. Its platform is set up on algorithms and machine learning to pull together new information and help patients have a better experience.
Also, the funding will provide an opportunity for One Medical to boost up its human medical team. It has plans of investing highly in the clinical team and doubling its provider numbers.