Westcove Advises PeakMed Direct Primary Care in its Partnership with One Medical
LOS ANGELES, CA – June 6, 2022 – Westcove Partners, LLC (“Westcove”), an emerging and highly specialized investment bank, today announced that it acted as the exclusive financial advisor to PeakMed Direct Primary Care (“PeakMed”) in its partnership with 1Life Healthcare (“One Medical”), a membership-based primary care practice operating in 12 markets across the United States and headquartered in San Francisco, CA. The terms of the transaction, which closed on April 15, 2022, were not disclosed. Westcove’s deal team included Justin Hand, Managing Director, Abe M’Bodj, Vice President, and Scott Schulkin, Associate. PeakMed’s legal representation was Debick Law Firm, while One Medical was represented by Cooley LLP and Athene Law.
“We are ecstatic to be partnering with One Medical, a company that I have admired from afar for quite some time. We believe the addition of PeakMed’s locations and the strong team we have built will allow One Medical to grow its presence in Colorado and the surrounding area in an impactful way,” said Dr. Mark Tomasulo, CEO and Founder of PeakMed. “We are very thankful to Westcove who provided us thoughtful guidance and advocated for our interests through every step of the process. Westcove was able to effectively communicate our value proposition to the market, manage a robust auction process with terrific prospective partners, and navigate us through the complexities of completing a transaction.”
About PeakMed
PeakMed Direct Primary Care is a membership-based direct primary care practice with 5 locations across Colorado and a network of affiliate practices across the United States that provides high quality and cost-effective primary care to its members. Founded in 2014, PeakMed is the direct primary care provider of choice to businesses and their employees with a mission to provide exceptional care and to lower healthcare costs for its members and employer clients. For more information, visit https://peakmed.com/.
About One Medical
Headquartered in San Francisco, 1Life Healthcare, Inc. is the administrative and managerial services company for the affiliated One Medical physician-owned professional corporations that deliver medical services in-office and virtually. 1Life and the One Medical entities do business under the “One Medical” brand. For more information, visit https://www.onemedical.com/.
About Westcove Partners
Westcove Partners is a leading healthcare-focused investment bank that specializes in advising its clients through mergers & acquisitions, debt, and equity financing, as well as other complex corporate finance transactions. The team focuses on founder operated businesses and seeks to curate its advisory services according to the intricacies that come with these types of businesses.