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Amazon exec says multiple companies signed to telehealth service, CNBC reports » 15:1806/0906/09/21
AMZN, TDOC, AMWL, ONEM
Amazon (AMZN) executive…
Amazon (AMZN) executive Babak Parviz, a vice president working on Amazon Care, said at the Wall Street Journal's Tech Health event that the company has "had quite a bit of interest from other companies in using this service," and added that Amazon plans to announce which companies have signed on to use the service later this summer, according to CNBC's Annie Palmer. Other companies in the virtual healthcare space include Amwell (AMWL), 1Life Healthcare (ONEM) and Teladoc Health (TDOC). Reference Link
1Life Healthcare price target lowered to $39 from $50 at Deutsche Bank » 06:5006/0906/09/21
Deutsche Bank analyst…
Deutsche Bank analyst George Hill lowered the firm's price target on 1Life Healthcare to $39 from $50 and keeps a Buy rating on the shares after the company announced a deal to acquire Iora Health in an all stock transaction, valuing the company at $2.1B.
Cathie Wood's ARK Investment bought 429.6K shares of 1Life Healthcare on Monday 06:3206/0806/08/21
Citi 'even more positive' on 1Life acquisition after management call » 06:2806/0806/08/21
Citi analyst Daniel…
Citi analyst Daniel Grosslight is "even more positive" on 1Life Healthcare's acquisition of Iora after speaking with management. He's "most bullish" on 1Life's ability to capture the economics of its clinical cost savings in the "large and lucrative" Medicare market. He keeps a Buy rating on the shares with a $55 price target.
1Life Healthcare price target raised to $55.50 from $48.00 at Piper Sandler » 11:3106/0706/07/21
Piper Sandler analyst…
Piper Sandler analyst Sean Wieland raised the firm's price target on 1Life Healthcare to $55.50 from $48.00 and keeps an Overweight rating on the shares. 1Life on Monday announced plans to buy Iora Health for $2.1B in an all-stock transaction, and Wieland tells investors in a research note that with Iora, 1Life will have a physical presence in 28 markets and address an estimated $870B annual revenue opportunity.
1Life Healthcare to acquire Iora Health in $2.1B all-stock transaction » 07:4506/0706/07/21
1Life Healthcare …
1Life Healthcare announced it has entered into a definitive agreement to acquire Iora Health, a human-centric, value-based primary care group with built-for-purpose technology focused on serving Medicare populations, in an all-stock transaction valued at approximately $2.1 billion. One Medical and Iora Health are aligned in their missions, models, and cultures to transform healthcare for key stakeholders -- Consumers, Employers and Payers, Providers, and Health Networks. Together, the two companies can further accelerate and build upon their impacts for these stakeholders, while simultaneously expanding their models in existing markets, entering new markets, serving new populations, expanding full-risk models, and leveraging their purpose-built technologies for increased growth and scale. Strategic and financial benefits of the transaction include: Creates a premier national member-based, technology-powered primary care platform to deliver better health, better care, and lower costs across Commercial and Medicare populations; Positions One Medical with Iora Health to advance the health of members across every stage of life; Extends One Medical's platform to deliver multi-modal care with 24/7 national digital health and in-person care across a combined 28 markets and beyond; Expands potential market opportunity to $870 billion across Commercial and Medicare segments, including the new Medicare Direct Contracting program; Enhances One Medical's risk-taking capabilities and extends One Medical into full-risk Medicare reimbursement models; Amplifies the power of purpose-built technologies to deliver premier member experiences, population health, provider support, and value-based care across every stage of life; Accelerates the expansion of two high-growth organizations, with complementary cultures and models serving as a premier place to practice modernized healthcare; and, Offers an opportunity to create significant value, with an expected $350+ million in annual revenue synergies by 2025, ~$30 million in annual net cost synergies by 2025, and with ~$30 million in cumulative capex savings through 2025. A designee of Iora Health will join the One Medical Board and Rushika Fernandopulle will become One Medical's Chief Innovation Officer. Under the terms of the agreement, Iora Health shareholders will receive 56.1 million shares of One Medical common stock. Based on the closing share price of One Medical's common stock of $35.59 on June 4th, 2021, the total transaction is valued at approximately $2.1 billion. Upon completion of the transaction, Iora Health shareholders are expected to own approximately 26.75% of the combined company. The transaction is expected to close in late Q3 or Q4 of 2021 and is subject to customary closing conditions, including approval by One Medical and Iora Health stockholders and receipt of regulatory approval.
Baird starts 'uniquely well-positioned' 1Life Healthcare with an Outperform » 06:5005/2805/28/21
As previously reported,…
As previously reported, Baird analyst Vikram Kesavabhotla initiated coverage of 1Life Healthcare with an Outperform rating and $43 price target. The analyst views 1Life as "uniquely well-positioned" to disrupt the primary care market in the U.S. with its "compelling and unique blend" of a retail presence and digital capabilities. While he appreciate ongoing investor concerns about profitability and competition, he expect positive execution in nine new markets coming online to benefit sentiment and valuation, the analyst said.
1Life Healthcare initiated with an Outperform at Baird » 17:4405/2705/27/21
Baird analyst Vikram…
Baird analyst Vikram Kesavabhotla initiated coverage of 1Life Healthcare with an Outperform rating and $43 price target.
One Medical's model delivers outsized impact in controlling diabetes » 16:1305/2405/24/21
Results of a longitudinal…
Results of a longitudinal observational study to be published in JMIR Diabetes demonstrates how One Medical incorporates an embedded diabetes management program within its membered-centered and technology-powered primary care model to deliver better health outcomes for patients, including meaningful reductions in HbA1c, blood glucose, levels. Chronic disease burdens continue to rise, with diabetes and other chronic illnesses among the leading causes of death and disability in America. The CDC estimates that as of 2020, approximately 34 million Americans, just over 10% of the population, had diabetes. Through it's human-centered and technology-powered model, One Medical seeks to address this public health concern by leveraging its multi-modal care strategy. Study Findings The peer-reviewed study is a retrospective observational analysis of a subset of One Medical patients with previously uncontrolled diabetes, and found that a cohort of 621 patients participating in One Medical's diabetes management program saw significant improvements in glucose control and cholesterol levels. Using One Medical's longitudinal primary care model, these patients saw their average HbA1c levels decrease by 19%, from 10.7% to 8.7%. This two point reduction is a significant improvement when compared to similar studies highlighting virtual-only solutions that did not include primary care to manage chronic care, and reported relatively modest improvements of up to 1 point. For context, previous studies have found that a one point reduction in HbA1c is linked to a reduction in risk of death by 21%, heart attacks by 14%, and microvascular complications by 37%. One Medical incorporates chronic care management as an essential part of its member-based and technology-powered primary care services, with key features including the following: Enhanced access to care through same and next-day in-office appointments with primary care providers, as
Fly Intel: Top five analyst initiations » 09:5205/2105/21/21
ONEM, DISH, OSH, AJG, EQX
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. 1Life Healthcare (ONEM) initiated with an Overweight at KeyBanc. 2. Dish (DISH) initiated with a Buy at Benchmark. 3. Oak Street Health (OSH) initiated with an Outperform at Bernstein. 4. Arthur J. Gallagher (AJG) initiated with an Underperform at BofA. 5. Equinox Gold (EQX) initiated with a Buy at Desjardins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.