Cooley, Skadden Steer $2.1B Deal For Primary Care Provider

Law360 (June 7, 2021, 5:47 PM EDT) -- Publicly traded health clinic operator 1Life Healthcare has agreed to buy private equity-backed primary care provider Iora Health for roughly $2.1 billion, the companies said Monday, in a deal put together with help from respective legal advisers Cooley and Skadden.

The deal sees San Francisco-headquartered 1Life Healthcare Inc., or One Medical, picking up Boston-based Iora Health, with the target's shareholders receiving a total of 56.1 million shares of One Medical common stock, equivalent to a deal value of about $2.1 billion according to a statement. 

Founded in 2010, Iora Health provides primary care services to thousands of Medicare beneficiaries; the company's...

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