Virtual Chronic Care Provider Omada Health Files to Go Public in the U.S.

TL/DR –

Virtual chronic care provider Omada Health has filed for an initial public offering (IPO) on the Nasdaq under the symbol “OMDA”, although it has not disclosed how much it hopes to raise. In 2022, the San Francisco-based company raised $192 million in a Series E funding round and reported a 38% increase in revenue to $169.8 million for 2024, and a 56.6% year-on-year jump in Q1 2025 to $55 million. Healthcare IPOs on US exchanges raised $7.1 billion in 2024, up from $2.8 billion in 2023.

Omada Health Files for IPO Amidst 2025’s Virtual Healthcare Boom

Virtual chronic care provider Omada Health is preparing to go public on the US stock market, amidst a surge of healthcare listings expected this year. Despite economic uncertainties due to fluctuating tariffs, companies less susceptible to adverse financial effects, like those in the healthcare sector, are confidently proceeding with their initial public offerings (IPOs).

Omada Health, based in San Francisco, California, has not yet disclosed the amount it aims to raise via its IPO. The digital healthcare platform which recently raised $192 million in a Series E funding round in 2022, reported a 38% revenue increase to $169.8 million for 2024, as indicated by its IPO paperwork.

In the first quarter of 2025, Omada posted a 56.6% year-on-year jump in revenue, amounting to $55 million. The company aims to list its common stock on the Nasdaq stock exchange under the symbol “OMDA”.

Data compiled by LSEG reveals US healthcare IPOs accrued $7.1 billion in 2024, a significant increase from $2.8 billion the previous year. This upward trend is evidenced by companies like Hinge Health, a digital exercise therapy platform for managing muscle and joint pain, which filed for its long-anticipated IPO in March.

Omada’s offering is being underwritten by major financial institutions, including J.P. Morgan, Goldman Sachs, Morgan Stanley, and Barclays.

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