Smart buy for 1Life

Article Excerpt

1LIFE HEALTHCARE, $32.90, is still a buy for aggressive investors. The company (Nasdaq symbol ONEM; TSINetwork Rating: Extra Risk) (; Shares outstanding: 137.7 million; Market cap: $4.7 billion; No dividends paid) is a membership-based provider of primary health care relying on its One Medical technology platform. It has attracted more than 598,000 members in nine U.S. markets through online services and 77 physical locations. 1Life has now agreed to buy Iora Health, a primary-care group aimed at serving Medicare populations. The purchase price is $2.1 billion in stock. The Iora acquisition not only extends 1Life’s geography reach around the U.S. to a combined 28 markets, but across all ages of patients. Meanwhile, in the quarter ended March 31, 2021, 1Life’s revenue jumped by 54.1%, to $121.4 million from $78.8 million a year earlier. One Medical’s membership count at the end of the quarter was 598,000, up 31.4% from 455,000 a year ago. 1Life Healthcare is a buy. buy…

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