One Medical CEO Amir Dan Rubin denied that his chain of tech-enabled medical clinics had knowingly allowed ineligible customers to receive the COVID-19 vaccine on Thursday, following reports that regulators had halted distribution. from the vaccine to the clinics. “We strongly reject these serious mischaracterizations. Any claim that we widely and knowingly ignore eligibility guidelines is untrue and contradicts our actual approach, ”Rubin said in response to an analyst’s first question on Thursday’s earnings call for the parent company. from One Medical, 1Life Healthcare Inc. ONEM, -6.38%.
National Public Radio reported Wednesday that employees tried to warn the company that ineligible patients were receiving the vaccines on the West Coast and were ignored, after two employees told a Forbes reporter earlier this month that the Ineligible clients in California were receiving vaccinations. NPR reported that Washington state had halted vaccine distributions to clinics, and the San Francisco Chronicle reported that regulators had done the same in the Bay Area, recalling thousands of doses of vaccines that had already been distributed to clinics. clinics in the company’s hometown of San Francisco. For More Information: San Francisco reportedly cuts COVID vaccine doses to One Medical Rubin listed at least four eligibility “checkpoints” in One Medical’s vaccination process in Thursday’s conference call, noting that Eligibility requirements may vary between states and counties, including the difference in neighboring counties’ standards. “However, it is still possible that some people have misrepresented themselves, abused our trust, or booked outside of their county’s specific eligibility criteria, perhaps even if they were eligible in another adjacent county,” he said. . “But, in short, we believe that these articles are an erroneous description of our outstanding work.” One Medical offers primary care clinics and online medical services for flat annual fees, primarily targeting urban areas and working-age professionals. It has signed up large corporate clients, including Alphabet Inc.’s Google GOOGL, -3.26% GOOG, -3.05%, an investor in the business that has accounted for 10% of One Medical’s revenue in the past and has One Medical clinics in some of their offices. One Medical’s parent company went public in January 2020 at a price of $ 14 a share, and has at times quadrupled that price on public markets. The stock has fallen for four consecutive sessions, a total drop of 14.2%, to $ 48.60, giving the company a market capitalization of nearly $ 7 billion. A Medical IPO: 5 Things You Need to Know About Primary Care Startup 1Life reported Thursday afternoon that it ended 2020 with more than half a million clients, growing 30% from the end of 2019. Revenue grew 37, 6% to $ 380 million for the entire year. , but the losses grew faster, 66.5%, to $ 89.4 million. Rubin continued to sell investors and analysts the One Medical vaccination opportunity in the earnings presentation, including positive mentions of its role in San Francisco in an investor presentation published Thursday. “While it is early in the launch of the vaccine, once vaccine eligibility opens to broader populations, we believe that our multimodal service model positions us well to continue supporting our communities, our members, and our client employees. Rubin said.