Omada Health Debuts at $19.00/share

Omada Health (NASDAQ:OMDA) priced its IPO at $19 per share on Thursday, in the middle of the expected range.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.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.Omada offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension. Sean Duffy, Omada’s CEO, co-founded the company with Andrew DiMichele and Adrian James, who have both moved on to other ventures.It’s the second digital health IPO in a matter of weeks following an extended drought for the industry. Digital physical therapy startup Hinge Health (NYSE:HNGE) debuted on the New York Stock Exchange in May.