Power care administration firm Omada Well being on Friday filed an S-1 with the U.S. Securities and Alternate Fee (SEC) to go public, making it the second digital well being firm to hunt an IPO this yr.
The corporate didn’t specify what number of shares can be provided or the value vary for the proposed providing. It intends to record beneath the ticker image OMDA.
Omada, based in 2011, obtained its begin in prediabetes administration. Nonetheless, the corporate’s companies expanded to incorporate administration for diabetes, cardiometabolic well being, hypertension and musculoskeletal situations.
The San Francisco-based firm presents a digital care program targeted on serving to people handle their very own well being situations by personalised data-driven habits change teaching. The platform goals to assist customers observe their eating regimen, train, blood glucose and different metrics. Sufferers can even entry digital look after help.
Within the submitting, Omada reported full-year income for 2024 of $169.8 million, up 38% from $122.8 million in 2023. Income for the primary three months of 2025, as of March 31, was $55 million.
Nonetheless, the corporate reported internet losses of $47.1 million for 2024 and $9.4 million for the primary three months of 2025.
“We’ve a historical past of internet losses, due partially to the numerous investments we now have made within the design and growth of our applications and platform enhancements, and haven’t but achieved profitability on an annual foundation,” the corporate mentioned within the submitting.
Omada additionally reported an accrued deficit of $444 million for 2024 and $453.4 million for the primary three months of 2025. Money and money equivalents have been reported as $76,392 for 2024 and $59,397 for 2025 as much as March 31.
THE LARGER TREND
In 2024, Amazon introduced the launch of its Well being Situation Applications, which permit prospects to faucet into digital well being advantages provided by their employer or insurance coverage service, with Omada Well being as the corporate’s launch associate.
In 2022, Omada scored $192 million in Sequence E funding, bringing its complete elevate to greater than $256 million.
That very same yr, the corporate introduced it could embrace behavioral well being help in its applications.
The combination included nervousness and despair evaluation, sources to handle social determinants of well being, stress administration and sleep instruments, and triage and steerage in critical psychological well being crises.
In 2020, Omada bought digital bodily remedy firm Physera so as to add musculoskeletal care to its choices.
One other digital well being firm in search of IPO standing is Hinge Well being. In March, the digital musculoskeletal care platform filed for an IPO to go public beneath the image HNGE.
Hinge, a San Francisco-based firm, was based in 2015. It gives digital care for people with musculoskeletal situations, together with entry to well being coaches, orthopedic surgeons, bodily therapists and technological sources, equivalent to surgical procedure resolution help.
Hinge additionally presents a pelvic ladies’s well being program and its FDA-cleared wearable Enso, which gives electrical pulses to alleviate on a regular basis ache.
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