STAT+: As Omada goes public, executives reflect on why profits are elusive in digital health
Omada Health, a digital health company for 14 years supporting chronic disease patients, is yet to generate profits.
Fourteen years after launching to help make a dent in the United States’ swelling chronic disease problem, Omada Health went public on Friday, raising $150 million at just over a $1 billion valuation.
Before going public, Omada raised $450 million from investors as it helped normalize digital health and convinced an impressive number of people to try it. Omada has over 2,000 customers, including employers and health plans, and roughly 680,000 people enrolled in its programs.
Even so, the company is still losing money.
