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Omada Health IPO signals healthier market, avoids ‘down-round’ trend
Omada Health popped in its first day as a public company, validation for founder CEO Sean Duffy.
Omada Health, a 14-year-old company providing virtual care for chronic conditions like diabetes and hypertension between office visits, closed its first trading day on Friday at $23 a share, a 21% jump from the IPO price of $19. For founder and CEO Sean Duffy, the successful public offering validates his decision to start a company that he believed the market desperately needed. In 2011, he dropped out of Harvard Medical School after realizing that chronic illness patients required more continuous support than the existing healthcare system delivered.
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