Omada Health, Inc. Secures $73 Million USD in a Funding Round

(San Francisco, CA) Omada Health, Inc. is the creator of the excitingly original, digital care program.  Specifically, Omada’s Digital Care Program, is a personalized approach to chronic conditions.  For example; through a personalized approach people who live with, or, are at risk of developing chronic conditions do have their health care needs supported.  In reference to the previously said; pre-diabetes, type-2 diabetes, hypertension, high cholesterol and mental health issues are good examples of the chronic conditions that receive personalized support.  Recently, Omada Health, Inc. announced that, its business model will be able to continue.  Specifically, the aforementioned business revealed that, it has secured $73 million USD in a funding round.  As part of the funding round, current investors decided to double down on their bet.  The current investors who decided to double down on their bet are Cigna Ventures, Andreessen Horowitz, U.S. Venture Partners, Norwest Venture Partners, Kaiser Permanente Ventures, Sanofi Ventures, Civilization Ventures and Providence Ventures.  The most noteworthy new investor of Omada Health, Inc., is Wellington Management Company, LLP.

          Wellington Management Company, LLP as the most noteworthy new investor, will be contributing funds for the following.  The funds will be used for the following two things.  The two things are the expansion of the digital care program, and, academic research efforts.  The first thing, is pretty much self explanatory.  The second thing; however, requires elaboration.  As of this date, Omada Health, Inc. has published 11 peer reviewed studies.  Additionally, it is in the middle of a large randomized controlled trial, of a digital diabetes prevention program.  It is hoped that; the results will deliver usable clinical outcomes, and, lower the medical costs of diabetes prevention.

          However and returning to; Omada’s Digital Care Program, the aforementioned also aims at changing behavior, in order, to provide healthcare for chronic conditions.  The way behavior is changed, is through, tools that help build long term healthy habits.  The tools are then implemented through a professional health coach, connected health devices, an online peer group, weekly interactive lessons and a personalized action list.  In keeping true to a digital approach to healthcare, Omada’s professional heath coaches, are empowered through data.  Only data can provide the patients with exact guidance, and, the guidance is executed at the moment it matters the most.  The connected health devices, give the patient a wireless scale.  The idea of the scale, is seamless tracking of the data powered medical guidance.  The online peer group, is an effort to match the patient of a chronic condition, with an intimate group of peers.  It is hoped that the group of peers will motivate, encourage and provide empathy for the patient.  Weekly interactive lessons, is the content that the patient receives.  Technically, it is tailored content that, is hoped to have an immediate and long lasting impact.  The personalized action list, is a customized to do list.  The idea is to empower the Omada’s Digital Care Program’s patient.

          Vijay Pande is a General Partner at Andreessen Horowitz.  Through a press statement, Mr. Horowitz said the following.  “Omada has become a category-defining company in digital healthcare.  Since our first investment, the team’s vision, rigorous clinical focus, and intelligent application of sustainable behavior change across multiple conditions has raised the bar for what health plan buyers, and individuals, should expect from digital health.”  Joan Harvey is the Senior Vice President of Consumer Health Engagement and Behavioral Health at Cigna Ventures.  Through a press statement, Ms./Mrs. Harvey said the following.  “Through our collaboration with Omada, we’re making it simple and convenient for our customers to take control of their health and well-being.  By harnessing the power of personal coaching, peer support, digital engagement and personal accountability, we can better inspire and support people to achieve their individual health goals and prevent chronic health conditions.  We’re excited to deepen our relationship with Omada, and further integrate its innovative program into our full suite of data-driven health services.”

          To end, Omada Health, Inc. did release a press statement.  Sean Duffy is a Co-Founder and the Chief Executive Officer of Omada Health, Inc.  Through a press statement, Mr. Duffy said the following.  “Ten years from now, the most engaging and utilized healthcare provider in the U.S. will be digital.  Omada is poised to be that provider, as we inspire and engage the more than 100 million patients who need additional care and support between physician visits.  Today’s announcement—and the incredible roster of investors participating in this round of fundraising—will deepen our collaboration with health plans, employers, and health systems, and accelerate the development of our truly personalized program that helps participants build patterns for lifelong health.”  As previously stated, Omada Health, Inc. recently announced that, its business model will be able to continue.  Specifically, the aforementioned business revealed that, it has secured $73 million USD in a funding round.  As part of the funding round, current investors decided to double down on their bet.  The current investors who decided to double down on their bet are Cigna Ventures, Andreessen Horowitz, U.S. Venture Partners, Norwest Venture Partners, Kaiser Permanente Ventures, Sanofi Ventures, Civilization Ventures and Providence Ventures.  Lastly, the most noteworthy new investor of Omada Health, Inc., is Wellington Management Company, LLP.

 

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Written from Press Release

Registered Writer with

PR Newswire Association, LLC

R-Berumen28

06/29/2019