Predict your next investment

Corporation
HEALTHCARE | Medical Facilities & Services / Medical Practice Management & Services
iorahealth.com

See what CB Insights has to offer

Founded Year

2010

Stage

Acquired | Acquired

Total Raised

$349.67M

Valuation

$0000 

About Iora Health

Iora Health leverages a model to provide patients with care, which includes office and non-office-based encounters (e.g. phone, text messages, and email), a transparent medical record, and educational offerings.On June 7, 2021, Iora Health was acquired by One Medical Group at a valuation of $2,100M.

Iora Health Headquarter Location

101 Tremont Street 6th Floor

Boston, Massachusetts, 02108,

United States

617-454-4672

Latest Iora Health News

One Medical raises full-year guidance with surge in membership, confronts high medical loss ratio in Q3

Nov 4, 2021

Nov 4, 2021 3:10pm One Medical also reported $151.3 million in revenue in the third quarter, exceeding Wall Street’s expectations of $125.7 million. (One Medical) Tech-enabled primary care provider One Medical outpaced membership expectations in its third quarter, reporting a total membership count of 715,000, a 40% jump year over year. Previously, the company had projected the high end of its third-quarter membership guidance at 697,000. One Medical also raised its full-year guidance for revenue, membership and adjusted EBITDA. The company reported $151.3 million in revenue in the third quarter, exceeding Wall Street’s expectations of $125.7 million and raising its full-year revenue guidance to $606 million to $615 million. Amir Dan Rubin, chair, CEO and president of One Medical, said during the company's third-quarter 2021 earnings call Wednesday that the revenue boost was driven by membership growth and the total increase in the number of patients seeking primary care relative to last year, when primary care volumes sunk during the COVID-19 pandemic. Full-year membership guidance was raised to between 728,000 and 736,000 members, a surge from the previous estimates that projected 723,000 members at the high end of the range. The company’s stock price rose 2.2% in premarket trading Thursday. One Medical’s acquisition of primary care provider Iora Health, which focuses on Medicare patients, closed Sept. 1, meaning the third-quarter financials include one month of contributions from Iora’s business. The company said the acquisition will allow it to broaden its market reach to care for people across a widened age range, opening the provider to reach 40% of Americans. Several investors in Wednesday’s earnings call raised concerns about the company’s high third-quarter medical loss ratio, at 87%. Bjorn Thaler, chief financial officer of One Medical, attributed the increase to the jump in membership and a “modest tailwind” from the COVID-19 pandemic. “The folks who are coming in unmanaged this year, they’re certainly running at medical claims expense ratios that frankly are higher than what we’ve typically seen,” he said. “I think that’s a little bit where we see some of that catch-up here on the deferred care and also some of the challenges as a result of COVID coming in here.” In October, the company announced the launch of Impact by One Medical, a virtual chronic care management platform, competing with other big hitters in the space like Livongo and Lark Health. The new offering provides patients with access to multidisciplinary care teams for virtual or in-person care as well as educational materials and platform integration with wearables like Fitbit. The company said the program's integration with primary care gives it a differentiated approach to the market. The company also opened into a new market this quarter in the Raleigh-Durham areas in North Carolina in partnership with Duke University’s health system. “This past quarter, we were excited to open our doors in the Raleigh-Durham, North Carolina region for consumer and enterprise members and to expand our in-person presence with new locations in a number of our existing markets,” said Rubin. Rubin noted that the company expects to expand into five more markets in the coming months: Columbus, Ohio; Milwaukee; Miami; Houston; and Dallas-Fort Worth.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Iora Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Iora Health is included in 4 Expert Collections, including Digital Health 150.

D

Digital Health 150

300 items

2019's cohort of the most promising digital health startups transforming the healthcare industry

V

Value-Based Care & Population Health

715 items

The VBC & Population Health collection includes companies that enable and deliver care models that address the health needs for defining populations along the continuum of care, including in the community setting, through participation, engagement, and targeted interventions.

D

Digital Health

11,292 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

T

Telehealth

2,708 items

Companies developing, offering, or using electronic and telecommunication technologies to facilitate the delivery of health & wellness services from a distance. *Columns updated as regularly as possible; priority given to companies with the most and/or most recent funding.

Iora Health Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Iora Health Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.