Omada Health set for Nasdaq debut after $150 million IPO

Virtual chronic care provider Omada Health OMDA.O set to begin trading on the Nasdaq later in the day

San Francisco, California-based OMDA late on Thursday raised $150.1 million by selling 7.9 million shares at $19 apiece, the midpoint of its marketed range of $18 to $20

At IPO price, OMDA fetched a $1.06 billion valuation

Morgan Stanley, Goldman Sachs and J.P. Morgan were the lead book-running managers for the offering

Founded in 2011, OMDA offers virtual care programs for patients with chronic conditions such as prediabetes, diabetes, and hypertension

OMDA had more than 2,000 customers and over 679,000 total members enrolled in one or more programs as of March 31