Omada Health, a virtual chronic care provider based in San Francisco, has submitted paperwork to go public in the United States. The company plans to list its shares on the Nasdaq under the symbol "OMDA" but has not yet revealed the amount it intends to raise through the offering. Omada is one of several healthcare firms preparing to enter public markets in 2025, amid continued investor interest in sectors viewed as more stable during uncertain economic periods. Major banks, including J.P. Morgan, Goldman Sachs, Morgan Stanley, and Barclays, are serving as underwriters for the IPO.
Founded to support long-term care for chronic conditions, Omada reported strong financial growth ahead of its public debut. The company saw a 38% increase in revenue in 2024, reaching $169.8 million, and posted a 56.6% year-on-year revenue rise in the first quarter of 2025, totaling $55 million. Omada’s move comes as healthcare IPOs have gained momentum, raising $7.1 billion on U.S. exchanges in 2024, compared to $2.8 billion in the previous year. Omada last raised $192 million in a Series E funding round in 2022.
