Fundraising Fox

1Life Healthcare

Nasdaq (historical; delisted after acquisition): ONEMUnicorn exit · $3.9Bacquired by Amazon

San Francisco, US · Founded 2007 · Delaware corporation · 10 known investors

Acquired by Amazon.com, Inc. February 2023 · $3.9B · source ↗

1Life Healthcare operated One Medical, a membership-based primary care organization offering in-person clinics and virtual care across the United States. Acquired by Amazon in 2023.

Also known as 1Life Healthcare · ONEM · Amazon One Medical · One Medical

Digital HealthHealthtech

Founders & leadership

1Life Healthcare was founded in 2007 by Thomas H. Lee.

TH
Thomas H. LeeFounder; former CEOBoard-certified internist and serial health-technology entrepreneur who co-founded Epocrates, founded One Medical, and later founded and leads Galileo.
AD
Amir Dan RubinFormer Chair and CEOSucceeded founder Tom Lee, led One Medical through Carlyle's investment, the IPO, Iora acquisition and sale to Amazon; departed in August 2023.
TG
Trent GreenFormer CEOSucceeded Amir Dan Rubin after Amazon's acquisition and led Prime integration before leaving in 2025.
AS
Andrew S. DiamondChief Medical Officer, Amazon One Medical; Head of One Medical Clinical Care DeliveryPhysician executive who joined in 2007, historically served as owner/director of affiliated professional corporations, and leads clinical care delivery after Amazon's 2025 reorganization.
RS
Roy SchoenbergHead of Amazon Health ServicesPhysician, co-founder and former co-CEO of Amwell appointed to lead Amazon Health Services, including One Medical, from July 1, 2026.
JG
Jeremy GreenNamed on SEC filing
PS
Paul S. KirincichNamed on SEC filing
KH
Kendra H. RagatzNamed on SEC filing
GR
Gerald R. GallagherNamed on SEC filing
DP
David P. KennedyNamed on SEC filing

Board

RM
Ram M. JagannathBoard director
BWBruce W. Dunlevie
Bruce W. DunlevieinHistorical Benchmark directorBenchmark partner and long-time One Medical investor/director before the Amazon acquisition.

Investors · 10

Also in the syndicate · 4

AARP Innovation FundPEG Digital Growth Fund IIRedmile GroupThe Carlyle Grouplead

Reported raises · per SEC filings

Form D private placements

$260.5M disclosed across 2 of 4 rounds · 2014–2020

$220MraisedSep 2018 · 1 investors · Hospitals and Physicians
Rule 506(b)
Officers, directors & promoters on the filing
  • Ram M. JagannathDirector
  • Thomas H. LeeDirector
  • Bruce W. DunlevieDirector
  • David KennedyDirector
  • David B. SingerDirector
  • Andrew AdamsDirector
  • Kalen HolmesDirector
  • Amir Dan RubinExecutive Officer, Director
  • Krishna YeshwantDirector
  • Robert R. SchmidtDirector
  • Brian BoumaDirector
Offering amount
$250M
Amount sold
$220M
First sale
Aug 2018
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$40.5MraisedMay 2014 · 16 investors · Hospitals and Physicians
Rule 506(b)
Officers, directors & promoters on the filing
  • Jeremy GreenDirector
  • Brian BoumaDirector
  • Paul S. KirincichExecutive Officer
  • Krishna YeshwantDirector
  • Thomas H. LeeExecutive Officer, Director
  • Bruce DunlevieDirector
  • David B. SingerDirector
  • Kendra H. RagatzDirector
  • Gerald R. GallagherDirector
  • David P. KennedyDirector
Offering amount
$40.5M
Amount sold
$40.5M
First sale
Apr 2014
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

One Medical was launched in San Francisco in 2007 by physician and serial health-technology entrepreneur Tom X. Lee. Its management company, 1Life Healthcare, had been incorporated in Delaware in 2002 and operates affiliated physician-owned professional corporations through administrative-services agreements. The model layers an annual consumer or employer-sponsored membership on top of insurance-billed clinical care, health-network PMPM payments, employer onsite-service fees and, after the 2021 Iora Health acquisition, capitated Medicare revenue. One Medical went public on Nasdaq in January 2020 and was acquired by Amazon for $18 per share in February 2023. Amazon subsequently integrated Amazon Clinic as One Medical On-Demand Care, discounted membership for Prime customers, reorganized healthcare leadership, and launched a record-aware agentic Health AI assistant in 2026.

Founding story

Tom X. Lee, an internist who had co-founded clinical decision-support company Epocrates, started One Medical in 2007 to redesign primary care around easier access, longer appointments, calmer offices, salaried clinicians and consumer technology. Lee led it for about a decade before Amir Dan Rubin became CEO in 2017.

Business model

Hybrid care delivery and practice-management platform. 1Life provides technology, brand, billing, offices and administrative services to physician-owned professional corporations; the clinical entities provide care. Revenue combines subscriptions, insurance reimbursement, PMPM and capitated contracts, employer services and direct-pay telehealth.

Consumer annual memberships; discounted employer-sponsored memberships; patient/insurer fee-for-service billing for scheduled care; health-network PMPM partnership revenue; employer onsite-service fees; Medicare Advantage/CMS capitation and risk revenue inherited through Iora; and no-membership message/video visit fees.

Traction

At year-end 2022, immediately before acquisition, 1Life reported 836,000 members (796,000 consumer/enterprise and 40,000 at-risk), more than 9,000 enterprise clients, 221 medical offices in 27 U.S. markets and $1.046 billion of annual revenue. It was still loss-making, with a $112.4 million fourth-quarter operating loss and $36.9 million adjusted EBITDA loss. Amazon no longer discloses standalone financials.

Latest developments

Amazon launched One Medical Health AI in January 2026 and expanded the agent across Amazon surfaces in March. The assistant uses permitted health records, labs and medications for guidance and actions with clinical escalation. Dr. Roy Schoenberg became head of Amazon Health Services on July 1, 2026; Andrew Diamond leads One Medical Clinical Care Delivery within the reorganized structure.

Full profile — market position, technology, go-to-market, geography, history, ownership, risks & controversies

Market position

One of the best-known scaled U.S. technology-enabled primary-care platforms. Competitors span traditional physician groups, health-system practices, CVS Oak Street/MinuteClinic, ChenMed, Carbon Health, Forward, concierge practices and virtual-care vendors.

Combines a premium consumer experience and salaried primary-care teams with physical clinics, 24/7 virtual access, employer distribution, health-network integration and Medicare value-based care. Amazon adds Prime distribution, pharmacy, consumer logistics, technology and AI.

Technology

Mobile and web scheduling, secure clinician messaging, virtual visits, prescription renewals, records and care plans; proprietary practice workflow and population-health systems; and, since 2026, a HIPAA-oriented agentic Health AI assistant grounded in available medical records, labs and medications that can explain results, book visits and escalate to clinicians.

Go-to-market

Direct-to-consumer membership, Amazon/Prime cross-selling, employer benefits, health-system partnerships, insurer coverage, clinics in dense metropolitan markets, onsite employer practices and nationwide virtual care.

U.S. consumers and families; employers buying a primary-care employee benefit; health systems and health plans; Medicare and Medicare Advantage populations; and patients seeking one-time virtual treatment.

Commercial consumer and enterprise members, at-risk Medicare members, enterprise clients, health networks, Prime members, and pay-per-visit patients.

Geography

United States. The pre-acquisition network had 221 offices in 27 markets; membership includes nationwide 24/7 virtual access, while full in-person benefits depend on proximity to a One Medical location.

History

1Life Healthcare incorporated in Delaware in 2002 and the One Medical service launched in 2007. The company raised successive rounds from Benchmark, Oak, DAG, Maverick, GV, J.P. Morgan and others; Carlyle invested up to $350 million in 2018, including $220 million of primary capital and $130 million of secondary purchases. 1Life completed a $281.8 million IPO in January 2020. It acquired Medicare-focused Iora Health for roughly $2.1 billion in stock in September 2021. Amazon announced a $3.9 billion acquisition in July 2022 and closed it on February 22, 2023. Amazon integrated One Medical with Prime and Amazon Clinic, reorganized health operations after 2024-25 cuts and executive departures, appointed Roy Schoenberg head of Amazon Health Services in July 2026, and launched Health AI in 2026.

Ownership

Wholly owned by Amazon.com, Inc. following the February 2023 acquisition of 1Life Healthcare for $18 per share, approximately $3.9 billion including net debt.

Risks & controversies

The business carries medical-liability, patient-safety, privacy, clinician-capacity and reimbursement risk. A 2021 U.S. House investigation criticized One Medical's COVID-19 vaccine administration and membership promotion. The Amazon transaction drew competition and health-data privacy concerns. Amazon cut healthcare jobs in 2024 and reports alleged untrained call-center handling of urgent cases. A patient's family filed a wrongful-death lawsuit; One Medical later confirmed nine employees improperly accessed that patient's records and said they were terminated. A 2026 physician lawsuit alleged retaliation, discrimination and patient-safety failures; One Medical disputed the characterization. These litigation claims remain allegations unless adjudicated.

Compiled by commissioned research from 17 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Acquisition valueJul 2022$3.9B
Annual revenueDec 2022$1B
At risk membersDec 202240,000 members
Consumer and enterprise membersDec 2022796,000 members
EmployeesDec 20223,698 people
Enterprise clientsDec 20229,000 clients
MarketsDec 202227 US markets
Medical officesDec 2022221 offices
Q4 adjusted ebitdaDec 2022−$36.9M
Q4 operating lossDec 2022$112.4M
Total membersDec 2022836,000 members

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Customers & partners

Named customers · 2

9,000+ enterprise clientsGoogle / Alphabet

Partnerships · 2

Amazon PrimeHealth systems and health plans

Relationships the company or its partners disclosed publicly — case studies, joint announcements, press.

Pricing

as listed Aug 2026
Message visitOn-Demand CareConsumers without membership requirement · direct pay
$29/visit, starting price
Video visitOn-Demand CareConsumers without membership requirement · direct pay
$49/visit, starting price
Non-Prime individualOne Medical MembershipU.S. consumers · membership plus separately billed visits
$199/year
Prime additional family memberOne Medical MembershipFamilies of Prime members · up to five additional members
$66/year
Prime first memberOne Medical MembershipAmazon Prime members · Prime-discounted membership plus separately billed visits
$99/year

Public list pricing as researched from the company's own pricing pages; negotiated and enterprise terms vary.

Timeline · 11

launches, deals, and filings
Jul 2026
Roy Schoenberg takes over Amazon Health Services

Amwell co-founder appointed leader of the Amazon health portfolio containing One Medical.

source ↗

Apr 2026
Physician retaliation and patient-safety lawsuit reported

A former physician alleged retaliation, discrimination and care-safety deficiencies; One Medical disputed the characterization.

source ↗

Jan 2026
Health AI launched

Record-aware agentic assistant launched in the One Medical app.

source ↗

May 2025
Unauthorized medical-record access disclosed

One Medical confirmed nine employees accessed a deceased patient's record without legitimate need; it said they were terminated and staff retrained.

source ↗

Feb 2024
Amazon healthcare job cuts

Amazon eliminated at least 115 health-division positions and consolidated offices in a cost-realignment effort.

source ↗

Feb 2023
Amazon acquisition closed

Amazon acquired 1Life Healthcare for $18 per share, about $3.9bn including net debt.

$3.9B source ↗

Sep 2021
Iora Health acquisition closed

Stock transaction valued at approximately $2.1bn added Medicare-focused value-based primary care.

$2.1B source ↗

Jan 2020
1Life Healthcare IPO

20.125m shares sold at $14, raising about $281.8m gross and listing as Nasdaq: ONEM.

$281.8M source ↗

Aug 2018
Carlyle investment

Up to $350m transaction, including $220m primary capital and approximately $130m secondary purchases.

$350M source ↗

Jan 2007
One Medical launched in San Francisco

Founded by Dr. Tom X. Lee as a technology-enabled primary-care model.

source ↗

Jul 2002
1Life Healthcare incorporated in Delaware

The management company commenced operations in 2004.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 2

corporate structure
1Life Healthcare, Inc.Delaware · No. SEC CIK 1404123 · inc. Jul 2002 · Amazon subsidiary
1Life HealthcareDelaware

Research sources · 17

primary sources listed

17 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does 1Life Healthcare do?
Amazon One Medical is a membership-based, technology-enabled U.S. primary-care network combining clinics, 24/7 virtual care, employer benefits, Medicare risk care, and pay-per-visit telehealth.
Who founded 1Life Healthcare?
1Life Healthcare was founded by Thomas H. Lee in 2007.
Who are 1Life Healthcare's investors?
1Life Healthcare's investors include Dag Ventures, J.P. Morgan Asset Management, Maverick Capital, Oak Investment Partners, Benchmark, GV (Google Ventures).
How much funding has 1Life Healthcare raised?
1Life Healthcare has disclosed $260.5M raised across 2 of its 4 known rounds.
Who acquired 1Life Healthcare?
1Life Healthcare was acquired by Amazon.
Where is 1Life Healthcare headquartered?
1Life Healthcare is headquartered in San Francisco, US.