One Medical

Deal Snapshot

Company: 1Life Healthcare, Inc.

Website: onemedical.com

Sector / Category: Membership-based primary care / hybrid in-person + virtual care

Headquarters: San Francisco, California, USA

Founded: 2007

Investor: Frazier VC

Investment Vehicle: Fund II

Deal Type: Secondary

Status: Realized

Company Overview

One Medical is a primary care provider that combines a technology-enabled experience with in-person clinics and virtual care, historically operating as a membership model under 1Life Healthcare before being acquired by Amazon.

Public Funding / Capital Events

Jan 31, 2020 — IPO trading began (Nasdaq: ONEM) 

Jul 21, 2022 — Amazon announced agreement to acquire One Medical 

Feb 22, 2023 — Amazon completed the acquisition 

Investment Summary

Fund II purchased secondary shares in One Medical in September 2017 and September 2018. The position has been realized.

Why We Invested

We invest in businesses with strong growth potential and scalable models that can expand efficiently as demand increases. One Medical combined a modern, technology-enabled patient experience with clinic-based care delivery, positioning the platform to scale through standardized operations, geographic expansion, and increasing utilization over time.