One Medical Expands Reach

May 13, 2021

Tech-enabled primary care company One Medical is quickly expanding to new markets and inking more health network partnerships.

The provider will enter the Dallas-Fort Worth market through a partnership with Baylor Scott & White Health, the largest not-for-profit health system in the state of Texas.

The Dallas-Fort Worth region is One Medical’s 19th planned market entry and third Texas market entry, following its recent arrival in Austin and planned entry in Houston. Other previously announced anticipated market entries include Raleigh-Durham, North Carolina; Columbus, Ohio; Milwaukee; and Miami."With the addition of these new markets, we are on track to go from nine in-person markets at the time of our IPO last year to 22 in-person markets," said Amir Dan Rubin, chair, and CEO and president of One Medical, during the company's first-quarter 2021 earnings call Wednesday.

"These 22 markets provide us an opportunity to deliver multimodal longitudinal care in markets representing nearly 40% of the U.S. commercially insured population," he said.

One Medical reported $121 million in revenue for the first quarter of 2021 compared to $79 million a year ago, a 54% increase.

The company's membership jumped 31% in the first quarter to reach 598,000 members compared to 455,000 members in the same quarter a year ago.

The San Francisco-based company,  which went public in January 2020, also recently inked a tie-up with employee benefits solutions company ParetoHealth. The partnership will offer One Medical’s primary care to ParetoHealth’s rapidly growing customer base of over 1,400 small and midsized employers with more than 440,000 lives covered nationwide, Rubin said.

As part of the partnership, One Medical will expand its in-person presence in the Midwest and Southeast to serve some of Pareto's clients in Alabama and Kansas City.

"One Medical is, if you will, taking over their sites in Alabama and Kansas City. We will run them. They will be branded as One Medical. They will be run in our model, and that's how that part fits in," Rubin said.