– Intermountain Ventures, the strategic investment arm of Intermountain Healthcare has invested in digital care leader Omada Health.
– The announcement expands the relationship with Intermountain Healthcare that began five years ago in 2016 and comes off the heels of Omada’s recent $73M funding round.
– The Omada Program became a covered benefit for Intermountain employees and their adult dependents in 2019.
Today, Omada Health announced a milestone investment from Intermountain Ventures, the strategic investment arm of Intermountain Healthcare. This investment comes on the heels of their recent $73 million funding round and expands a relationship with Intermountain Healthcare that began five years ago, signaling the continued industry shift towards deeply integrated, value-based care. The Omada Program became a covered benefit for Intermountain employees and their adult dependents in 2019.
Impact of Investment
As Omada works to reconceptualize Omada as a provider of “21st century healthcare”, there’s a huge opportunity when it comes to digital health solutions integrating with value-based health systems. This deepening relationship with Intermountain Healthcare further solidifies Omada’s position to provide a roadmap for large healthcare organizations seeking to integrate digital health solutions.
Digital Therapeutics for Chronic Disease
Omada works with more than 600 employers and health plans across all 50 states, delivering an integrated experience that adapts to participants’ health needs, and personalizes their journeys to create the best health outcomes. Omada’s dedicated coaches guide each individual throughout the program, achieving unparalleled engagement and sustainable behavior change. Omada’s proprietary coaching platform enables them to deliver personalized interventions at scale. The company proved the model for digital care as the nation’s largest CDC-recognized provider of the National Diabetes Prevention Program, and has now launched programs over the last twelve months for diabetes self-management, as well as anxiety and depression, to holistically address individuals’ health needs.
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.
Why It Matters
“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,” said Omada Health CEO and co-founder Sean Duffy. “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.”