1Life Healthcare, which operates 77 membership-based health clinics under the One Medical brand, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $263 million by offering 17.5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, 1Life Healthcare would command a fully diluted market value of $2.1 billion.
1Life Healthcare was founded in 2007 and booked $257 million in revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol ONEM. J.P. Morgan, Morgan Stanley, Allen & Company, Citi, Piper Jaffray, Wells Fargo Securities, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of January 27, 2020.
