PRESS RELEASE: Intermountain Ventures Invests in Omada Health10-Oct-2019
Press Release –
Venture Arm of Integrated Hospital System Expands Work with Digital Care Leader
San Francisco, CA (October 10, 2019) - Omada Health today announced an investment from Intermountain Ventures, the strategic investment arm of Intermountain Healthcare. The investment expands a relationship between the two organizations that began five years ago. In 2016, Intermountain Healthcare and Omada launched an innovative partnership in conjunction with the American Medical Association to deliver digital diabetes prevention services via physician referral. In addition to producing strong clinical outcomes for enrolled individuals across Utah, the collaboration has provided a roadmap for large healthcare organizations adopting proven digital health solutions. The Omada Program became a covered benefit for Intermountain employees and their adult dependents in 2019.
“There’s nothing more rewarding than having a partner who has worked with your business for years decide to become an investor,” said Omada co-founder and CEO Sean Duffy. “Omada and Intermountain Healthcare are fundamentally aligned on our values, and our vision for the future of healthcare. This investment provides another opportunity to deepen our relationship, and I couldn’t be more excited about our current and future work together.”
Intermountain Healthcare is widely recognized as a leader in transforming healthcare by using evidence-based best practices to consistently deliver high-quality outcomes and sustainable costs. The not-for-profit system of 24 hospitals, 215 clinics, and more than 2,500 physicians and clinicians in Utah, Idaho and Nevada and a health plans division called SelectHealth has received recognition for its investment in value-based, clinically-effective preventive care. Omada and Intermountain Healthcare share goals of increasing access to personalized care, and reducing costs by improving patient experience.
“The Omada Program has been an important addition to our portfolio of diabetes prevention programs for Intermountain Healthcare patients and caregivers. This strengthened partnership will help us further our shared goals to not only prevent and manage diabetes, but also to improve the experience, outcomes, and overall health of our patients,” said Liz Joy, MD, Medical Director for Health Promotion and Wellness, Intermountain Healthcare.
Earlier this year, Omada announced a $73 million round of investment led by Wellington Management, bringing the company’s total investment to more than $200 million. Omada has published 11 peer-reviewed studies and is currently running the largest-ever randomized controlled trial of digital diabetes prevention. The company's approach is proven to deliver lasting clinical outcomes, as well as significant medical cost savings, across diverse populations. Omada's program drives unprecedented levels of meaningful engagement by participants, directly leading to sustained improvements in health.
About Omada Health
Omada is a digital care program that empowers people to achieve their health goals through sustainable lifestyle change. Working primarily through health plans, employers, and integrated health systems, the company delivers personalized interventions for individuals at risk for, or dealing with, type 2 diabetes and hypertension, as well as anxiety and depression. Combining data-powered human coaching, connected devices, a proprietary technology platform, and curriculum tailored to an individual's specific conditions and circumstances, Omada has enrolled more than 275,000 participants to date. Omada partners include Cigna, Kaiser Permanente, Blue Cross Blue Shield Minnesota, and other leading health plans. For additional information, please visit www.omadahealth.com.