One Medical buys Medicare-focused provider Iora Health in $2.1 billion M&A

Unlike One Medical, Iora is still a private company, but it has closed several rounds of funding. In February 2020, Iora scored $126 million to build a new Medicare Certified EHR system. The company has more than $350 million in funding. One Medical said this new acquisition will help it expand its full-risk models, as well as expand into new populations. The transaction is expected to close in late Q3 or Q4 of 2021. After the acquisition closes, Iora Health’s CEO Rushika Fernandopulle will join One Medical as chief innovation officer. Additionally, after the close, the joint company will be able to hit 28 markets across the U.S.