One Medical to acquire Premji Invest-backed Iora Health

US-based primary healthcare startup Iora Health, in which PremjiInvest had led a USD 126 million funding round in February last year, is to be acquired by fellow US-based healthcare company One Medical. The all-stock transaction will value Iora Health at USD 2.1 billion and will give shareholders of the company a 26.75% stake in One Medical which is traded on the Nasdaq stock exchange. Founded in 2010, Iora is a primary healthcare provider focusing on improved outcomes at lower costs for patients. Khosla Ventures is also an investor in Iora Health.