Tag: Health

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To break away from D2C crowd, SmileDirectClub announces retail partnership with Walmart

Today, SmileDirectClub announced a partnership with Walmart to sell a new line of oral care products, including toothbrushes, teeth whitening treatments, a water flosser and more. For one of the top teledentistry companies, this represents a move to make its business more compelling to customers and investors alike.

Following news of the deal this morning, SmileDirectClub shares spiked, with the stock currently trading up about 21% at $10.19. That’s significant for a company that had one of the worst first-day performances of any initial public offering over $1 billion in the U.S. since 2007. Still, SmileDirectClub’s stock is nowhere near its IPO price of $23.

SmileDirectClub’s entrance into the more traditional dental care space is clearly a move to try to differentiate itself from the likes of smaller startups like Uniform Teeth and Candid, while also creeping into oral healthcare startup Quip’s territory. As the dental care space gets more crowded, it’s no wonder why SmileDirectClub is looking to expand into already-proven business models.

SmileDirectClub’s main competitor in the more traditional dental care space — other than legacy brands like Crest and Colgate — is Quip . The New York-based startup has raised more than $60 million in funding and has sold its oral care products at Target since October 2018.

Posted on

To break away from D2C crowd, SmileDirectClub announces retail partnership with Walmart

Today, SmileDirectClub announced a partnership with Walmart to sell a new line of oral care products, including toothbrushes, teeth whitening treatments, a water flosser and more. For one of the top teledentistry companies, this represents a move to make its business more compelling to customers and investors alike.

Following news of the deal this morning, SmileDirectClub shares spiked, with the stock currently trading up about 21% at $10.19. That’s significant for a company that had one of the worst first-day performances of any initial public offering over $1 billion in the U.S. since 2007. Still, SmileDirectClub’s stock is nowhere near its IPO price of $23.

SmileDirectClub’s entrance into the more traditional dental care space is clearly a move to try to differentiate itself from the likes of smaller startups like Uniform Teeth and Candid, while also creeping into oral healthcare startup Quip’s territory. As the dental care space gets more crowded, it’s no wonder why SmileDirectClub is looking to expand into already-proven business models.

SmileDirectClub’s main competitor in the more traditional dental care space — other than legacy brands like Crest and Colgate — is Quip . The New York-based startup has raised more than $60 million in funding and has sold its oral care products at Target since October 2018.

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Alphabet-backed primary care startup One Medical files to go public

One Medical, a San Francisco-based primary care startup with tech-infused, concierge services filed for an IPO with the Securities and Exchange Commission today.

Internal medicine doctor Tom Lee founded the startup, now valued at well-over $1 billion dollars, in 2007. Lee exited his company in 2017, leaving it in the hands of former UnitedHealth group executive Amir Rubin.

The startup currently operates 72 health clinics in nine major cities throughout the U.S., with three more markets expected to open in 2020 and has raised just over $500 in venture capital from it’s biggest investor, the Carlyle Group (which owns just over a quarter of shares), Alphabet’s GV, J.P. Morgan and others. Google also incorporates One Medical into its campuses and accounts for about 10% of the company revenue, according to the SEC filing. The filing also mentions the company, which is officially incorporated as 1Life Healthcare Inc. ONEM, now plans to raise about $100 million.

Presumably, this money will help the company improve upon its technology and expand to more markets. We’ve reached out to One Medical for more and so far have only been referred to its wire statement.

According to that statement, One Medical has applied for a listing as ticker symbol, ONEM under its common stock on the Nasdaq Global Select Market. We’ll be sure to update you if and when we hear more.