Omada Health Sets IPO Terms, Targets $1.14B Valuation

Omada Health, a San Francisco-based digital health company specializing in virtual care for chronic conditions, has launched its IPO roadshow aiming to raise up to $158 million by offering 7.9 million shares at $18 to $20 each. The IPO could value the company between $1.1 billion and $1.14 billion, depending on final pricing and whether underwriters exercise their option to buy additional shares. Omada reported revenues of $122.8 million in 2023 and $169.8 million in 2024, with narrowing net losses. The company provides digital care for diabetes, hypertension, musculoskeletal issues, and other chronic conditions, and will trade on the Nasdaq under the ticker 'OMDA.' Major underwriters include Morgan Stanley, Goldman Sachs, and JPMorgan Chase, with top shareholders listed as U.S. Venture Partners, Andreessen Horowitz, and Fidelity. Omada last raised $192 million in a Series E round in 2022.