US-based primary care system provider One Medical Group has secured $40m in growth capital in a round led by investment advisory firm Redmile Group, which also featured undisclosed existing investors.
Google Ventures led a $30m equity round for One Medical in 2013 that also featured Benchmark Capital and DAG Ventures, and One Medical has now raised about $117m in total according to deals database Crunchbase.
One Medical grew its membership by more than 50% in 2013 at the same time as it added seven new offices. It will use the cash to expand into new markets.
“We started One Medical to build a better primary care delivery model – one that uses technology to deliver higher-quality care and service more affordably,” said One Medical CEO Tom Lee. “With our recent expansion into the enterprise, employers are discovering that our model can help them lower their overall health care costs while giving their employees turnkey access to quality primary care that they love.”