Primary care group backed by Google parent set to raise $200M+

One Medical, a primary care clinic group headquartered in San Francisco, is reportedly in talks to raise more than $200 million in growth capital from The Carlyle Group, a global alternative asset management firm, several sources confirmed to CNBC.

The concierge medicine group also reportedly aims to purchase an additional $100 million in shares from investors, the sources said. CNBC reports the company is in the late stages of a conversion.

The primary care organization has offices in several major cities across the U.S., including Chicago, New York and Seattle. The group accepts insurance from most carriers and allows patients without insurance to pay out of pocket. It also offers patients the opportunity to engage with providers virtually through a suite of mobile apps, and it built its own EHR system, according to the report.

One Medical has amassed more than $180 million in financing through investors such as Google's parent company, Alphabet, and JPMorgan Chase since launching in 2007, and it is currently valued at more than $1 billion. In July 2017, the company secured a number of leaders from various healthcare organizations across the U.S. to its executive management team, including former UnitedHealth executive Amir Rubin to serve as its CEO.

Apple reportedly almost purchased One Medical last year when the tech giant began searching for self-insured employers to provide medical and wellness services at on-site clinics, two sources told CNBC in October 2017.

To access the full report, click here.

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