Chronic care management company Omada Health is seeking a valuation of about $1.1 billion with its initial public offering on the Nasdaq Global Market under the ticker symbol OMDA.
It will offer an aggregate of 7.9 million shares of its common stock and plans to grant the underwriters a 30-day option to buy up to 1.185 million additional shares of stock at the initial public price.
The company is expecting the initial public offering price to be between $18 and $20 per share.
THE LARGER TREND
Omada Health filed an S-1 with the U.S. Securities and Exchange Commission (SEC) earlier this month, making it the second digital health company to seek an IPO this year.
In the filing, Omada reported full-year revenue for 2024 of $169.8 million, up 38% from $122.8 million in 2023. Revenue for the first three months of 2025, as of March 31, was $55 million.
The company also reported net losses of $47.1 million for 2024 and $9.4 million for the first three months of 2025.
The San Francisco-based company, founded in 2011, initially focused on prediabetes management but has since expanded its services to include management for diabetes, cardiometabolic health, hypertension and musculoskeletal conditions.
It offers a virtual care program to help patients manage their health conditions through personalized data-driven behavior change coaching. The platform aims to help users track their exercise, diet, blood glucose and other metrics. Patients can also access virtual care for support.
Digital health company Hinge Health went public last week on the NYSE under the symbol HNGE, raising around $437.3 million with its IPO, which sold 9.14 million shares.
It began trading on the NYSE, opening at $39.25 per share, up 23% from its IPO price of $32, and closing on its first day of trading at $37.56 per share. Its stock is currently trading at $39.50 per share.
Hinge, also a San Francisco-based company, provides virtual services for individuals with MSK conditions, including access to health coaches, orthopedic surgeons, physical therapists and technological resources, such as surgery decision support.
Hinge also offers a pelvic health program for women and its FDA-cleared wearable, Enso, which provides electrical pulses to relieve everyday pain.
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