1Life Healthcare $282 million IPO
Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the $281.75 million initial public offering by 1Life Healthcare, Inc. The IPO consisted of a primary offering of 20,125,000 shares of common stock, including 2,625,000 shares of common stock sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. 1Life Healthcare’s common stock is listed on the Nasdaq Global Select Market under the symbol “ONEM.”
Operating under the “One Medical” brand, 1Life Healthcare is a membership-based primary care platform with seamless digital health and inviting in-office care. 1Life Healthcare is disrupting healthcare from within the existing ecosystem by simultaneously addressing the frustrations and unmet needs of key stakeholders with a modernized healthcare membership model based on direct consumer enrollment as well as employer sponsorship.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Donald K. Lang and Blake Anderson. Partner Rachel D. Kleinberg and associate Adam R. Brownstone provided tax advice. Counsel Bonnie Chen and associate Jesse L. Hallock provided intellectual property and technology advice. Counsel Gregory D. Hughes provided executive compensation advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.