Oak Street Health Acquires RubiconMD for $130M – Health M&A

RubiconMD Lands $18M to Expand eConsult Platform for Primary Care Clinicians
RubiconMD Co-founders Carlos Reines (left) and Gil Addo (right)

What You Should Know:

Oak Street Health, Inc., a network of value-based primary care centers for adults on Medicare, today announced it has acquired RubiconMD, the leading technology platform providing access to specialist expertise.

– Motivated by their own experiences within the healthcare system, CEO Gil Addo and President Carlos Reines founded RubiconMD in 2013 to democratize medical expertise by connecting primary care clinicians to top specialists. Through its digital platform, RubiconMD enables the remote exchange of insights between clinicians that eliminates unnecessary referrals and services, reduces patient wait time and travel burdens, and allows primary care to practice at the top of their license.

– The acquisition enables Oak Street Health to integrate virtual specialty care into its existing care model, which significantly streamlines the referral process and better manages costs, enhances patient experience, and provides comprehensive care far beyond traditional primary care.

Expert Insights, Better Care

RubiconMD supports employers and onsite clinics, community health centers, correctional health clinicians, health plans, health systems and direct primary care practices. RubiconMD’s specialist network of over 230 specialists covers all major specialties, including Cardiology, Nephrology and Pulmonology. RubiconMD provides clinical insights from specialists on specific patient cases, enabling primary care providers to directly manage and coordinate more of a patient’s care needs.

“Oak Street Health is on a mission to rebuild healthcare as it should be, which we are doing by focusing on preventive care and driving more resources into the primary care setting,” said Mike Pykosz, Chief Executive Officer of Oak Street Health. “Like traditional primary care, specialty care is broken for older adults, but together with RubiconMD, we can rebuild it into a model that meets patient needs. Integrating and virtualizing specialty care into Oak Street Health’s innovative model enables us to improve access, experience and coordination for patients while substantially lowering costs. RubiconMD’s technology platform and national footprint allows us to scale the model across our current and future markets to further our mission.”