Omada Health aims to go public with market cap of up to $1.1 billion

Omada Health plans to raise up to $158 million in its up coming IPO, attaining a market cap of about $1.1 billion at the top end of its expected range, according to a filing on Thursday. The virtual chronic care company filed its prospectus earlier this month, and has just updated the filing with an expected pricing range of $18 to $20 per share. Omada said it plans to sell 7.9 million shares in the offering. The size of the offering and share price could change, and the market cap could be higher on a fully diluted bases. The IPO is expected to take place next week. Omada, which offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension, will be the second digital health company to hit the market in a matter of weeks after an extended drought. Digital physical therapy startup Hinge Health debuted on the New York Stock Exchange earlier this month. Omada, based in San Francisco, describes its approach as a "between-visit care ... Read full article.