Omada Health has the plan.
What’s happening: The virtual chronic care company filed to go public, joining a new wave of tech-enabled platforms reshaping care delivery.
Long game. Founded in 2011, Omada helps users manage cardiometabolic, behavioral, and musculoskeletal conditions.
Treating patients between traditional doctor visits, Omada’s care model deploys AI-driven software, connected health devices like CGMs and blood pressure cuffs, and clinical coaches to support patients 24/7.
Aiming to work alongside—not replace—physicians, it integrates with healthcare, partnering with 2K+ employers, health plans, and PBMs, serving 679K+ members and reaching 20M+ individuals.
Go time. Backed by a16z and Fidelity, and last valued at over $1B, Omada has accelerated at the right time — hitting $169.8M in ’24 revenue while narrowing losses by ~$20M.
Following Hinge Health’s filing, its IPO signals renewed optimism for digital health exits. But unlike direct-to-consumer wellness apps, this new wave bills insurers, delivering outcomes-based care and engineering healthcare infrastructure, not perks.
Punchline: Omada’s pitch is simple: outcomes, not engagement. And with payers footing the bill, the company can focus on providing real clinical and financial returns.
