Omada Health, which provides digital health tools for patients with chronic conditions, announced terms for its IPO on Thursday.
The San Francisco, CA-based company plans to raise $150 million by offering 7.9 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Omada Health would command a fully diluted market value of $1.2 billion.
Omada launched its initial program in diabetes prevention and weight health in 2012, and now offers cardiometabolic programs for prediabetes, diabetes, and hypertension; a physical therapy program to address MSK conditions; its GLP-1 Care Tracks; and behavioral health support across all programs. As of March 31, 2025, Omada had more than 2,000 customers and over 679,000 total members enrolled in one or more programs, having supported over one million members since launch.
Omada Health was founded in 2011 and booked $190 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol OMDA. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of June 2, 2025.
