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1Life Healthcare, Inc. (One Medical) announced Q2 2020 results with a membership count of 475,000, reflecting a 25% year-over-year increase. The company reported net revenue of $78.0 million, up 18% from the previous year. Despite these gains, the company faced a loss from operations of $28.7 million and a net loss of $30.3 million, representing 37% and 39% of total revenue, respectively. They ended the quarter with $664.4 million in cash and marketable securities and announced plans to expand into two new markets.
1Life Healthcare, Inc. (One Medical) (Nasdaq: ONEM) announced an underwritten public offering of 8,300,000 shares of common stock at $31.00 per share, with an option for underwriters to purchase an additional 1,245,000 shares. The offering is set to close on June 29, 2020, subject to customary conditions. Notably, One Medical will not receive proceeds from this sale, as shares are offered by selling stockholders. J.P. Morgan and Morgan Stanley are lead managers. The registration statement is effective, and the offering is made via a prospectus.
On June 22, 2020, 1Life Healthcare, Inc. (One Medical) announced a public offering of 7,000,000 shares of common stock by selling stockholders, with an option for underwriters to purchase an additional 1,050,000 shares. One Medical will not receive proceeds from this sale, which will be managed by J.P. Morgan and Morgan Stanley as lead managers. A registration statement related to this offering has been filed but is not yet effective, meaning shares cannot be sold until it is. The company aims to continue its mission in technology-powered health care.
One Medical (NASDAQ: ONEM) has partnered with MedStar Health to enhance healthcare delivery in Maryland and the Washington, D.C. area. This collaboration aims to improve clinical integration and reduce administrative costs through coordinated care across primary and specialty settings. MedStar Health becomes the preferred partner for One Medical in the region, granting its members access to a vast network of specialists and facilities. Both organizations plan to expand their service locations in the coming years to offer better healthcare solutions.
SAN FRANCISCO, June 2, 2020 (GLOBE NEWSWIRE) -- 1Life Healthcare, Inc. (One Medical) (Nasdaq: ONEM) announced participation in the William Blair 40th Annual Growth Stock Conference on June 9th. The event includes a fireside chat featuring Amir Dan Rubin, Chair & CEO, and Bjorn Thaler, CFO, at 2:00 p.m. PDT. A live audio webcast and replay will be available on One Medical's investor website. One Medical aims to transform healthcare through a human-centered, technology-powered model.
One Medical (Nasdaq: ONEM) announced plans to offer $250 million in convertible senior notes due 2025, with a potential additional $37.5 million. The notes are intended for general corporate purposes, including working capital and strategic investments, although no specific acquisitions are currently planned. The notes will be unsecured and interest will be paid semiannually. The offering is subject to market conditions and is not registered under the Securities Act.
One Medical (Nasdaq: ONEM) has partnered with Montage International to provide 24/7 virtual care services at its luxury hotel properties. Guests at Montage Hotels & Resorts and Pendry Hotels will receive a 30-day membership to One Medical's digital health services upon check-in. The initiative aims to enhance the healthcare experience for travelers, allowing them to access medical assistance easily. Montage's staff will also benefit from annual memberships, promoting overall wellness. This collaboration seeks to ensure guest safety and comfort with integrated healthcare.
1Life Healthcare, Inc. (ONEM) reported a 25% increase in net revenue to $78.8 million for Q1 2020, compared to $63 million in Q1 2019. The ending membership count rose by 25% year-over-year, reaching approximately 455,000. The company ended the quarter with $375.4 million in cash and marketable securities and only $2.2 million in debt. Despite the positive growth, One Medical reported a net loss of $34.6 million for the quarter. Looking forward, the company anticipates ending 2020 with between 500,000 and 515,000 members.
SAN FRANCISCO, May 11, 2020 (GLOBE NEWSWIRE) -- One Medical (Nasdaq: ONEM) announced that Amir Dan Rubin, Chair & CEO, and Bjorn Thaler, CFO, will participate in the UBS Virtual Global Healthcare Conference. Their presentation is scheduled for Monday, May 18th at 11:10 a.m. PDT / 2:10 p.m. EDT. A live audio webcast and replay will be available at One Medical's investor page. One Medical is a primary care platform focused on human-centered healthcare using technology.
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