Humana and Cox Enterprises are set to exit the primary care provider in an all-share acquisition by publicly listed peer One Medical.
Primary care provider One Medical agreed yesterday to buy Iora Health, a US-based peer backed by health insurer Humana and automotive and media group Cox Enterprises, in a $2.1bn all-share deal.
Founded in 2010, Iora runs a network of 47 clinics offering healthcare to recipients on federal health insurance scheme Medicare, many of which are senior citizens. Its activities will complement One Medical’s customer base, most of which are privately insured.
The deal will give Iora’s shareholders a 26.1% stake…
