CNBC October 8, 2019
Christina Farr, Alex Sherman

One Medical, a chain of primary care clinics that’s backed by Google’s parent company Alphabet and tries to bring a modern feel to the typical doctor’s office, has hired banks including J.P. Morgan and Morgan Stanley for its IPO, according to people familiar with the matter.

The company, which was valued at about $1.5 billion in a financing round last year, is expected to file its prospectus by the first quarter of 2020 and possibly sooner, said the people, who asked not to be named because the plans are confidential. Representatives from One Medical, J.P. Morgan and Morgan Stanley all declined to comment.

Should One Medical make it out successfully, it will join a growing class of health-technology companies to...