Omada Health prices IPO at $19 per share

• Omada Health is set to start trading on the Nasdaq under the ticker symbol “OMDA.”
• It’s the second digital health company to hit the market in a matter of weeks, following Hinge Health’s debut in May.
• The company priced its IPO at $19 a share.

Omada Health is a virtual-first healthcare provider focused on helping individuals manage and improve their health, especially those with chronic conditions like prediabetes, diabetes, hypertension, and musculoskeletal issues. 

The virtual chronic care company said in a press release that 7.9 million shares are being sold in the offering, amounting to $150 million.

Omada, founded in 2012, will trade on the Nasdaq under the ticker symbol “OMDA.” The company filed its initial prospectus in May and updated the document with an expected pricing range of $18 to $20 per share. 

At the IPO price, Omada is worth about $1.1 billion, though that number could be higher on a fully diluted basis. That’s right around its private market valuation from 2022, when Omada announced a $192 million funding round that pushed its valuation above $1 billion.

U.S. Venture Partners, Andreessen Horowitz and Fidelity’s FMR LLC are the largest outside shareholders in the company, each owning between 9% and 10% of the stock.