Omada Health goals to move public with marketplace cap of as much as $1.1 billion

Omada Health plans to boost as much as $158 million in its up coming IPO, achieving a marketplace cap of about $1.1 billion on the best finish of its anticipated vary, in step with a submitting on Thursday.

The digital power care corporate filed its prospectus previous this month, and has simply up to date the submitting with an anticipated pricing vary of $18 to $20 according to proportion. Omada stated it plans to promote 7.9 million stocks within the providing.

The dimension of the providing and proportion value may alternate, and the marketplace cap may well be upper on an absolutely diluted bases. The IPO is anticipated to happen subsequent week.

Omada, which provides digital care systems to make stronger sufferers with power prerequisites like prediabetes, diabetes and high blood pressure, would be the 2d virtual fitness corporate to hit the marketplace in an issue of weeks after a longer drought. Digital bodily treatment startup Hinge Health debuted at the New York Stock Exchange previous this month.

Omada, primarily based in San Francisco, describes its way as a “between-visit care model” this is complementary to the wider health-care ecosystem, in step with its prospectus.

Sean Duffy, Omada’s CEO, co-founded the corporate in 2012 with Andrew DiMichele and Adrian James, who’ve each moved directly to different ventures.

Omada’s income higher 57% in its first quarter to $55 million from $35.1 million a 12 months previous, the submitting stated. For 2024, income rose 38% to $169.8 million from $122.8 million the former 12 months.

The corporate’s web loss narrowed to $9.4 million within the first quarter from $19 million a 12 months in the past.

“To our prospective shareholders, thank you for learning more about Omada,” Duffy stated within the prospectus. I invite you to enroll in our adventure.”

The company will trade on the Nasdaq under the ticker symbol “OMDA.”

Morgan Stanley, Goldman Sachs and JPMorgan Chase are leading the offering. Omada’s top shareholders are U.S. Venture Partners, Andreessen Horowitz and Fidelity.

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