Virtual Chronic Care Company Omada Health files for the IPO
Omada Health Smart Devices in action.
Kind approval: Omada Health
The virtual company Omada Health applied for a IPO on Friday that the youngest company for digital healthcare, which signaled its intention to reach public markets despite a turbulent economy.
Omada was founded in 2012 and offers virtual care programs to support patients with chronic illnesses such as prediabetes, diabetes and high blood pressure. The company describes its approach as a “supply model between visit”, which, according to its prospectus, is supplemented with the broader health ecosystem.
In the first quarter, sales rose by 57% to $ 55 million, compared to USD 35.1 million in the same period last year, the submission said. The company based in San Francisco generated sales of $ 169.8 million in 2024 and increased by 38% compared to $ 122.8 million in the previous year.
The net loss of Omada decreased in the first quarter to 9.4 million US dollars compared to $ 19 million in the same period of the previous year. It reported a net loss of $ 47.1 million in 2024 compared to a net loss of $ 67.5 million in 2023.
The IPO market has largely been beaten in the entire technology sector in the past three years, and it was almost completely dead within digital health. After President Donald Trump announced a comprehensive tariff policy that the US markets used in turbulence last month, it is an even riskier undertaking to open a company. The online loan Klarna delayed his long-awaited IPO, as well as Stubhub.
However, Omada Health is not the first digital health society to be submitted for your public market debut this year. The startup health health for virtual physiotherapy submitted its prospectus in March and provided an update with the income of the first quarter on Monday.
Omada contracts with employers, and the company said it worked with more than 2,000 customers and supports 679,000 members as of March 31. More than 156 million Americans suffer from at least one chronic illness, so there is a significant market opportunity, according to the company's submission.
In 2022, Omada announced a round of finance of $ 192 million, which increased its evaluation of over $ 1 billion. Us Venture Partners, Andreessen Horowitz and Fidelitys FMR LLC are the largest external shareholders of the company, each of which has between 9% and 10% of shares.
“To our potential shareholders, thank you for learning more about Omada. I invite you in our trip,” said the co -founder and CEO of Omada, Sean Duffy. “In front of us is a unique opportunity to build a promising and successful business and at the same time really change life.”
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