Latest news with #OmadaHealth
Yahoo
5 hours ago
- Business
- Yahoo
Virtual Care Firm Omada Health Leverages GLP-1 Trend For $150 Million NASDAQ Debut
Omada Health, Inc. (NASDAQ:OMDA) closed its first day of trading at $23 per share on Friday, a 21% jump from the IPO price of $19 per share. On Thursday, Omada Health priced its initial public offering of 7.9 million at $19/share. The company filed its initial prospectus in May and updated the document with an expected pricing range of $18 to $20 per share. The company raised $150 million in its IPO. Reuters reported Omada Health's valuation hit $1.28 billion. Omada's revenue increased 57% in the first quarter of 2025 to $55 million from $35.1 million a year earlier, according to its prospectus. For 2024, revenue rose 38% to $169.8 million from $122.8 million the previous company's net loss narrowed to $9.4 million in the first quarter from $19 million a year ago. Omada launched its initial virtual program in diabetes prevention and weight health in 2012. The company delivers virtual care between doctor visits, providing an engaging, personalized, and integrated experience for members designed to improve their health while delivering value for employers, health plans, health systems, pharmacy benefit managers (PBMs), and other entities that cover the cost of programs. According to its S-1 filing, the company had 2,000 customers and more than 679,000 members enrolled in one or more programs as of 31 March. Omada says it has supported more than 1 million members since its launch. The company expanded its virtual care programs to target prediabetes, hypertension, and musculoskeletal conditions. The company estimates that about 20 million people have benefits coverage for one or more Omada programs. According to the company's S-1 filing, this represents about 14% of the self-insured insurance market, 9% of the fully insured market, 1% of the Medicare Advantage market, and 1% of the PBM market. Wall Street Journal, citing President Wei-Li Shao, writes that Omada leadership sees the current moment as the perfect time for an IPO, as GLP-1 drugs such as Ozempic, Wegovy, and Mounjaro have sparked a renewed focus on health problems that can stem from obesity. GLP-1s are expected to be a significant tailwind as more employers are rolling out reimbursement plans for the drugs, CEO Sean Duffy told WSJ. Omada, which signs contracts with employers to offer as a benefit to their workers, aims to be a complementary service that helps patients navigate taking GLP-1s. Omada's IPO is the second digital health IPO in weeks following an extended drought for the industry. In May, digital physical therapy startup Hinge Health Inc. (NYSE:HNGE) debuted on the New York Stock Exchange. Hinge Health priced its IPO of 13.7 million shares at $32 per share. Price Action: OMDA stock is trading lower by 0.43% to $22.90 premarket at last check Monday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Virtual Care Firm Omada Health Leverages GLP-1 Trend For $150 Million NASDAQ Debut originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Omada Health IPO signals healthier market, avoids 'down-round' trend
The IPO market is starting to feel healthier. Omada Health, a 14-year-old company providing virtual care for chronic conditions like diabetes and hypertension between office visits, closed its first trading day on Friday at $23 a share, a 21% jump from the IPO price of $19. The IPO valued the company just above $1 billion (excluding employee options), a figure that's nearly identical to Omada's last private valuation of $1 billion set in its previous VC round. The debut is one of the first among recent IPOs that was not a so-called down-round. Many of the latest public listings, including Hinge, ServiceTitan, and Reddit, priced below their private market highs, though have faired well as public companies. For founder and CEO Sean Duffy, the successful public offering validates his decision to start a company that he believed the market desperately needed. In 2011, he dropped out of Harvard Medical School after realizing that chronic illness patients required more continuous support than the existing healthcare system delivered. Before the offering, he owned 4.1% of the company, according to Omada's offering document. Other significant shareholders included Revelation Partners (10.9%), US Venture Partners (9.9%), Andreessen Horowitz (9.6%), and FMR (9.3%). Duffy told TechCrunch that over his 14-year journey as a founder, he had many harrowing moments. "I didn't think our series A was going to come together because we were working on this commercial deal that didn't materialize, and that spooked one investor," he said. "As a young business, something tries to kill you every month," he continued. "And then as the business grows, it turns into like every quarter or six months, year, two years." One of the recent challenges for many digital health businesses is navigating the "collapse" of the market post-COVID boom. Omada steered through the turbulent times by seeking new, rising markets. It recently expanded its offerings to include diet management support for GLP-1 patients.
Business Insider
3 days ago
- Business
- Business Insider
Opening Day: Stablecoin issuer Circle soars in public debut
Shares of Circle jumped almost 170% in their trading debut after the stablecoin company raised about $1.1B in its IPO. The stock opened at $69 after the pure-play crypto company priced its initial public offering at $31 per share. Confident Investing Starts Here: Two other big names are next, with IPOs expected next week. Fintech Chime and space and defense company Voyager Technologies are expected to go public sometime in the week of June 9. Omada Health (OMDA) opened on June 6 at $23. The company that bills itself as 'the virtual between-visit healthcare provider' priced 7.9M shares at $19.00, in the middle of the $18.00-$20.00 range. Circle (CRCL) opened on June 5 at $69.00. The company priced its upsized initial public offering of 34M shares at a public offering price of $31.00 per share. Circle is a financial technology firm that enables businesses 'to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide.' END OF THE WEEK PERFORMANCE: Omada Health – up almost 31% at $24.80. Circle – up about 42% at $117.25. RECENT IPOS TO WATCH: Arrive AI (ARAI), eToro (ETOR), Antalpha (ANTA), and OMS Energy (OMSE) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPOs expire. Click here to see upcoming IPO calendar on TipRanks. Voyager Technologies filed with the SEC for an initial public offering of shares of Class A common stock. The company said it intends to apply to list its Class A common stock on the New York Stock Exchange under the symbol 'VOYG.' The prospectus states, 'We are an innovation-driven defense technology and space solutions company. Our company was purpose-built to address issues at the forefront of defense, national security and space industries and we have organized our business to reflect this goal. We strive to solve complex challenges to fortify national security, protect critical assets and unlock new frontiers for human progress and economic development. We are committed to developing and delivering an array of transformative, mission-critical solutions to customers enabled by our advanced technology, analytics and space infrastructure capabilities. Our solutions include communications and intelligence collection systems, defense systems, advanced space technology, in-space infrastructure and space mission services. Our business consists of diversified solutions across three business segments: Defense & National Security, Space Solutions and Starlab Space Stations. Since 2019, we have accomplished significant achievements in each of these segments, including the successful deployment of first-of-its-kind missile defense maneuvering capabilities, the development of groundbreaking space technology and the selection by NASA to develop a replacement for the ISS… Since 2019, we have executed and successfully vertically and horizontally integrated seven acquisitions, and have grown our revenue to $144.2 million in 2024 and $34.5 million for the three months ended March 31, 2025.' Strategy (MSTR) announced that, subject to market and other conditions, it intends to conduct an initial public offering registered under the Securities Act of 1933, as amended, of 2.5M shares of Strategy's 10.00% Series A Perpetual Stride Preferred Stock, the ' STRD Stock.' Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital. Fitness Champs filed an initial public offering of 2M ordinary shares, with selling shareholders offering an additional 1.75M shares. The company intends to apply to list its shares on the Nasdaq under the symbol 'FCHL.' The company anticipates the initial public offering price will be between $4.00-$5.00 per share. Bancroft Capital is acting as the underwriter. Chime announced that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Chime has applied to list its common stock on the Nasdaq under the ticker symbol 'CHYM.' The number of shares to be offered and the price range for the proposed offering have not yet been determined. Morgan Stanley, Goldman Sachs and J.P. Morgan will act as lead book-running managers for the proposed offering. Barclays will act as an additional book-running manager. Evercore ISI, UBS Investment Bank, Deutsche Bank Securities, Piper Sandler and Wolfe Nomura Alliance will act as bookrunners. William Blair, Canaccord Genuity, Keefe, Bruyette & Woods, First Citizens Capital Securities and Texas Capital Securities will act as co-managers. Chime is a financial technology company. Happy City filed with the SEC for an initial public offering of 1M Class A ordinary shares of Happy City Holdings Limited, representing 14.29% of the Class A ordinary shares following completion of the offering. The company expects the initial public offering price will be between $5.00 and $7.00 per Class A share and notes it has reserved the symbol 'HCHL' for purpose of listing its Class A ordinary shares on the Nasdaq Capital Market. Odyssey Therapeutics has filed with the SEC for an initial public offering of shares of common stock. The company has applied to list its common stock on the Nasdaq Capital Market under the trading symbol 'ODTX.' The prospectus filed with the SEC states, 'Odyssey is a clinical-stage biopharmaceutical company led by a team and board of drug hunters seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases… Our most advanced programs include OD-07656, a small molecule scaffolding inhibitor of receptor-interacting protein kinase 2, or RIPK2, for which we intend to commence a Phase 2a monotherapy trial for ulcerative colitis, or UC, in the first quarter of 2025 and a Phase 2a combination trial with vedolizumab in the first half of 2026, and two preclinical programs: a small molecule scaffolding inhibitor of interleukin-1 receptor-associated kinase 4, or IRAK4, and OD-00910, an agonistic protein therapeutic targeting tumor necrosis factor receptor 2, or TNFR2, built from camelid heavy chain variable regions, or VHH, domains.' OTHER IPO NEWS: Dubai party hotel operator FIVE Holdings is considering listing in London or New York, three people with knowledge of the matter said, Reuters' Hadeel Al Sayegh and Federico Maccioni report. The company, which owns the Pacha hotel and nightclub, has been exploring an initial public offering in Dubai, it has said. Chairman and founder Kabir Mulchandani said last year the company was worth up to $3B and was considering a dual listing. He did not name possible locations, the authors note.
TechCrunch
3 days ago
- Business
- TechCrunch
Omada Health IPO signals healthier market, avoids ‘down-round' trend
The IPO market is starting to feel healthier. Omada Health, a 14-year-old company providing virtual care for chronic conditions like diabetes and hypertension between office visits, closed its first trading day on Friday at $23 a share, a 21% jump from the IPO price of $19. The IPO valued the company just above $1 billion (excluding employee options), a figure that's nearly identical to Omada's last private valuation of $1 billion set in its previous VC round. The debut is one of the first among recent IPOs that was not a so-called down-round. Many of the latest public listings, including Hinge, ServiceTitan, and Reddit, priced below their private market highs, though have faired well as public companies. For founder and CEO Sean Duffy, the successful public offering validates his decision to start a company that he believed the market desperately needed. In 2011, he dropped out of Harvard Medical School after realizing that chronic illness patients required more continuous support than the existing healthcare system delivered. Before the offering, he owned 4.1% of the company, according to Omada's offering document. Other significant shareholders included Revelation Partners (10.9%), US Venture Partners (9.9%), Andreessen Horowitz (9.6%), and FMR (9.3%). Duffy told TechCrunch that over his 14-year journey as a founder, he had many harrowing moments. 'I didn't think our series A was going to come together because we were working on this commercial deal that didn't materialize, and that spooked one investor,' he said. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW 'As a young business, something tries to kill you every month,' he continued. 'And then as the business grows, it turns into like every quarter or six months, year, two years.' One of the recent challenges for many digital health businesses is navigating the 'collapse' of the market post-COVID boom. Omada navigated the turbulent times by seeking new, rising markets. It recently expanded its offerings to include diet management support for GLP-1 patients.
Business Insider
3 days ago
- Business
- Business Insider
Diabetes startup Omada Health finally went public after 14 years. Here's who made bank.
Omada Health just became the second digital health company to IPO this year. The chronic care company saw its shares jump Friday morning by over 38% above its initial price. Here's what Omada's major investors' stakes are worth after the public market debut. Omada Health just went public at a $1.1 billion valuation — 14 years after its founding. It's the second digital health IPO of the year, following physical therapy company Hinge Health, which went public on May 21. The two IPOs come after a multiyear drought for healthcare public market debuts. And so far, Omada's IPO hasn't disappointed. While the chronic care company priced its initial shares at $19, its stock opened at $23 a share and jumped as high as $28.40 Friday morning, nearly a 50% increase. Omada Health launched in 2011 to provide virtual care for prediabetes, making its name in the years following for diabetes management. In recent years, its business has surged in new areas beyond diabetes care. Omada's weight care business has boomed as more patients taking GLP-1 drugs like Ozempic for weight loss seek companion care. The San Francisco-based company says most of its new employer and health plan clients approach Omada initially, interested in its metabolic health track. Omada's initial valuation of $1.1 billion is roughly where it was privately valued. Omada's last private fundraise, a $192 million Series E round announced in February 2022, put Omada's valuation over $1 billion. It's perhaps the best outcome Omada's investors could've hoped for, given that many digital health startups now looking to IPO last raised at huge valuations during VC's ZIRP period. Those valuations could be difficult to realize in today's market. Hinge Health, for example, went public at a $2.6 billion valuation after being valued in its 2021 fundraise at $6.2 billion. We don't know what Omada Health's investors paid for their shares, so we can't calculate their profit. However, since Omada's shares opened on the stock market at $23, we used that price to determine the worth of its investors' stakes. None of Omada's major investors sold any shares in its IPO. Here's what the stakes of Omada Health's major investors and executives are worth after its IPO. Revelation Partners is a healthcare-focused investment firm that says it provides flexible capital to companies, especially to give liquidity to startups. The firm first invested in Omada in September 2019, according to its website. Revelation Partners told Business Insider in an email that the firm invested in Omada through a series of secondary transactions. Omada hasn't mentioned Revelation Partners in previous press releases about its fundraises. Revelation Partners owns about 5.2 million shares, or 9.3% of the company. At the $23 market debut price, the firm's stake is worth about $120 million. US Venture Partners, an investor: $108.5 million San Francisco-based US Venture Partners makes early-stage investments across healthcare, software, consumer, and security. The firm says it's invested $4.5 billion across 532 companies. USVP led Omada Health's $4.7 million Series A fundraise in 2013. The firm contributed additional financing in Omada's Series B through D rounds. General partner Dr. Jonathan Root has served on Omada's board of directors since the firm's 2013 investment. USVP owns about 4.72 million shares, or 8.5% of Omada Health. At the $23 market debut price, the firm's stake is worth about $108.5 million. Andreessen Horowitz, an investor: $106 million VC giant Andreessen Horowitz, or A16z, first invested in Omada Health in 2015, when the firm led Omada's $23 million Series B. The firm went on to invest in Omada's Series C and D fundraises, per PitchBook. At the time of A16z's 2015 investment, former general partner Balaji Srinivasan joined Omada's board of directors. It's unclear when he stepped down from the board; he moved into a part-time role at A16z that same year. A16z owns about 4.6 million shares, or 8.3% of the company. At the $23 market debut price, the firm's stake is worth about $106 million. Fidelity Management and Research Company, an investor: $102 million Fidelity Management and Research Company is the parent company of financial services giant Fidelity Investments. Fidelity has invested in a handful of healthcare startups over the years, leading rounds like now- public insurtech Oscar Health 's $400 million raise in 2016 and smart ring maker Oura 's $200 million Series D in December. FMR led Omada's $192 million Series E fundraise in February 2022. Fidelity owns about 4.4 million shares, or 8.0% of the company. At the $23 market debut price, the firm's stake is worth about $102 million. Cigna Ventures, an investor: $79 million Health insurance giant Cigna spun out a venture capital arm in 2018 to back healthcare companies. Omada Health was one of the firm's first bets. Cigna began working with the diabetes company in 2015. Two years later, the insurer announced an investment in Omada, leading a $50 million round in 2017 that Cigna Ventures later called Omada's Series C-1 financing. Cigna also expanded its partnership with Omada as part of its formal investment. Cigna Ventures owns about 3.4 million shares, or 6.2% of the company. At the $23 market debut price, the firm's stake is worth about $79 million. aMoon Fund, an investor: $62 million Israeli VC firm aMoon fund invests in healthcare and life sciences companies from early to late stages. Founded in 2016, it has backed a number of biotech companies that later went public, including Sophia Genetics, which went public in 2021, and Amylyx Pharmaceuticals, which went public in 2022. The firm first invested in Omada Health in its $192 million Series E round in 2022. "The entire space of all these clusters of diseases that includes diabetes, hypertension, and obesity is going through a major revolution right now," aMoon Fund managing partner Tomer Berkowitz told BI. "The solution in the end will not just be based on drugs, but it'll be a combination of drugs and behavioral change. I think Omada plays a significant role in that." aMoon owns about 2.7 million shares, or 4.9% of the company. At the $23 market debut price, the firm's stake is worth about $62 million. Norwest Venture Partners, an investor: $58 million San Francisco-based Norwest Venture Partners invests in early- to late-stage startups. It's backed more than 700 companies and manages over $15.5 billion in assets, per the firm. Its healthcare portfolio also includes hospital operations AI company Qventus, which raised $105 million in January led by private equity firm KKR, and behavioral health site Talkspace, which went public in a 2021 SPAC deal. The firm led Omada's $48 million Series C round in 2015 and put additional funding into Omada's Series C-1 and D rounds. Norwest owns about 2.5 million shares, or 4.5% of the company. At the $23 market debut price, the firm's stake is worth about $58 million. Sean Duffy, CEO: $46 million Sean Duffy cofounded Omada Health alongside Adrian James, Omada's former president, and Andrew DiMichele, former chief technology officer, in 2011. The startup sought to use technology to deliver care for chronic conditions, initially focusing on prediabetes, to patients in between visits with their primary care providers. Duffy and James spun Omada out of the design and consulting firm IDEO, where they'd begun researching the challenges in prediabetes and metabolic disease care. For Duffy, the IDEO gig had begun as an internship while he was getting dual MD-MBA degrees at Harvard. Instead of returning to complete his studies, he turned his focus to the idea that would become Omada. Before Omada, Duffy had created the interactive Microsoft Excel training tool Excel Everest, written about healthcare innovation for the medtech blog Medgadget, and worked in people analytics at Google. Duffy owns about 2 million shares, or 3.5% of Omada Health. That number includes about 860,000 shares of common stock and 1.15 million stock options exercisable by May 30, according to Omada's S-1 filing. At the $23 market debut price, his stake is worth about $46 million. Wei-Li Shao, president: $13 million Wei-Li Shao has served as Omada's president since 2021. He first joined the company in 2021 as its chief commercial officer. Before Omada, Li spent a combined 17 years at Eli Lilly managing a number of the pharma giant's businesses and brands, including its Alzheimer's disease, diabetes, and neurosciences businesses. Shao owns about 579,095 stock options exercisable by May 30, representing 1.0% of the company. He does not own any common stock. At the $23 market debut price, his stake is worth about $13 million. Steve Cook, CFO: $7.9 million Steve Cook joined Omada Health as its chief financial officer in 2021. He'd previously led strategic finance efforts at primary care chain One Medical through its 2020 IPO. Before that, he spent six years in finance and strategy at Salesforce. Cook owns about 340,000 stock options exercisable by May 30, giving him less than 1% ownership. He does not own any shares of common stock. At the $23 market debut price, his stake is worth about $7.9 million. Trevor Fetter, board member: $5.3 million Trevor Fetter has served on Omada's board of directors since March 2021. He's a senior lecturer at Harvard University and the lead independent director of insurance business The Hartford. Fetter is best known as the former chairman and CEO of health system giant Tenet Healthcare, a position he held for 15 years. Fetter also holds advisory positions at multiple other private and public companies, sitting on the board of directors at healthtech startup Biofourmis and serving as a member of the advisory board of private equity firm TowerBrook Capital Partners. Fetter owns about 231,000 shares, or less than 1% of the company. That number includes about 111,000 shares of common stock and 120,000 stock options exercisable by May 30. At the $23 market debut price, his stake is worth about $5.3 million. Jeryl Hilleman, chair of the board of directors: $4.8 million Jeryl Hilleman has spent the majority of her career as a serial CFO, holding the lead finance role at five different companies across industries, including software, biotech, and medtech. All five companies were ultimately acquired. Today, Hilleman is the chair of Omada's board of directors, a position she's held since 2019. She also serves on the boards of cancer therapeutics maker Novocure, which completed its IPO in February, as well as public medtech company Si-Bone and public vaccine maker HilleVax. Hilleman owns about 210,000 stock options exercisable by May 30, which gives her less than 1% ownership of Omada. She does not own any common stock. At the $23 market debut price, her stake is worth about $4.8 million. Dr. Sachin Jain, board member: $604,000 Dr. Sachin Jain is the president and CEO of Medicare Advantage provider SCAN Health Plan. He joined Omada's board of directors in August. Jain is also a professor of medicine at Stanford and a practicing academic hospitalist at the US Department of Veterans Affairs. Previously, he was a senior advisor to the administrator of the Centers for Medicare and Medicaid Services, the president and CEO of CareMore Health and Aspire Health, and the chief medical information and innovation officer at Merck. Jain owns about 26,000 stock options exercisable by May 30, representing less than 1% of the company. He does not own any common stock. At the $23 market debut price, his stake is worth about $604,000. Julie Klapstein, board member: $527,000 Omada Health added Julie Klapstein to its board of directors in August. Klapstein was the founding CEO of Availity, one of the largest health information networks in the country. She spent nearly 11 years at Availity after its 2001 founding. Since Availity, she's served as a board member at nearly two dozen public and private companies, including healthcare companies like value-based primary care chain Oak Street Health and investment firms like PE firm Riverside Partners. She's also been an advisor to Andreessen Horowitz, most recently serving as a partner advisor from 2023 through April, per her LinkedIn. Klapstein owns about 23,000 stock options exercisable by May 30, representing less than 1% of the company. She does not own any common stock. At the $23 market debut price, her stake is worth about $527,000. Adam Stavisky, board member: $527,000 Omada added Adam Stavisky to its board of directors in August, alongside Klapstein and Jain. He most recently spent six years as the senior vice president of US benefits at Walmart. Before that, he spent 13 years at Fidelity, leaving as its head of benefits consulting. In addition to his role at Omada, he's a member of the board of advisors at marketing agency StrawberryFrog. Stavisky owns about 23,000 stock options exercisable by May 30, representing less than 1% of Omada Health. He does not own any common stock. At the $23 market debut price, his stake is worth about $527,000. Dr. Anne Beal, board member: $380,000 Omada added Dr. Anne Beal to its board of directors in October. Beal is the founder of AbsoluteJOI Skincare, a science-based clean beauty company. She's also a board member at pharma giant GSK and life sciences company Prolacta Biosciences. She previously served as the chief patient officer at biopharma behemoth Sanofi. Beal owns about 17,000 stock options exercisable by May 30, representing less than 1% of Omada Health. She does not own any common stock.
