Omada Health Raises $50 Million, Led by Cigna
June 14 2017 - 10:00AM
Business Wire
Two Companies Growing Commercial Collaboration
to Deliver Chronic Disease Prevention to Cigna Members, Drive
Innovation
Building on the largest enrollment quarter in the company’s
history, Omada Health today announced a $50 million fundraising
round led by global health services leader Cigna (NYSE: CI). In
addition to leading the fundraising round, Cigna will also grow its
non-exclusive commercial partnership with Omada, adding the
recognized Omada Program to Cigna’s suite of health improvement
services. Joining the Cigna-led fundraising round were new
investors Civilization Ventures and Sanofi Genzyme BioVentures.
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Omada Health tool kit for helping
prediabetic customers avoid Type 2 diabetes. (Photo: Business
Wire)
As part of the expanded commercial collaboration, eligible
Cigna-administered health plan customers may have no-cost access to
Omada’s digital intensive behavioral counseling platform as a fully
covered preventive benefit in the carrier’s health improvement
program portfolio. The Cigna-Omada Initiative will incorporate
Omada’s data-driven, evidence-based digital behavioral counseling
program and be available to Cigna customers with prediabetes, as
well as those at elevated risk of chronic conditions such as heart
disease and hypertension.
“Cigna is one of the most forward-thinking health service
companies in the United States,” said Omada CEO Sean Duffy. “We
love when our commercial partners invest, and Cigna’s lead on this
fundraising round is further validation that Omada’s behavior
change approach to chronic disease prevention is driving real
results in the real world. We look forward to working with the
Cigna leadership to deliver personalized, adaptable chronic disease
prevention to their membership. As Omada expands further into the
health plan and health system space, we are fortunate to be working
with some of the most well-established and innovative companies in
the healthcare industry.”
“Cigna is a world leader in using behavior science to help
customers change their habits, improve their health, and reduce
their risk of chronic disease,” said Cigna’s Chief Medical Officer
Alan M. Muney, MD MHA. “Our work with Omada will further that
expertise. This relationship is more than an investment or simple
collaboration -- it’s an important step toward the future state of
healthcare. Omada Health’s mission and ours are very closely
aligned. That alignment will drive proven, outcomes-oriented
performance.”
Omada is a worldwide leader in digital therapeutics, publishing
seven peer-reviewed studies demonstrating real-world efficacy. The
company is the first digital health provider to demonstrate
sustainable results over a two-year time horizon, and has shown
clinically-meaningful success with seniors, veterans, and the
underserved as it prepares to begin offering services to Medicare
beneficiaries in 2018.
Cigna evaluated Omada’s digital behavior change program in 2015,
with positive results to date, and plans to expand availability in
the future. The collaboration is consistent with Cigna’s focus on
preventing diabetes, improving health, and driving better clinical
and health economic outcomes for its members. Cigna has been a
leader in the shift towards value-based healthcare, and Omada’s
pay-for-outcomes revenue model aligns perfectly with that
focus.
Also participating in the round were previous investors U.S.
Venture Partners, Andreessen Horowitz, Norwest Venture Partners,
Humana, Kaiser Permanente Ventures, Providence Ventures, dRx
Capital, and GE Ventures.
About Omada Health
Omada Health is a digital behavioral medicine company that
inspires and enables people to change the habits that put them most
at risk for chronic conditions like heart disease and type 2
diabetes. The company is the largest CDC-recognized provider of the
National Diabetes Prevention Program, and since its founding, has
enrolled more than 100,000 participants. Omada’s program combines
proven behavioral science, the power of professional health coaches
and peer groups, connected technology, and world-class design to
deliver clinically-meaningful results. The company operates on a
pay-for-outcomes pricing model that aligns incentives between
Omada, customers, and participants. Omada Health was named a 2016
Technology Pioneer by the World Economic Forum, and one of Fast
Company’s Most Innovative 2017. To learn more, visit
www.omadahealth.com.
About Cigna
Cigna Corporation (NYSE: CI) is a global health service company
dedicated to helping people improve their health, well-being and
sense of security. All products and services are provided
exclusively by or through operating subsidiaries of Cigna
Corporation, including Cigna Health and Life Insurance Company,
Connecticut General Life Insurance Company, Life Insurance Company
of North America and Cigna Life Insurance Company of New York. Such
products and services include an integrated suite of health
services, such as medical, dental, behavioral health, pharmacy,
vision, supplemental benefits, and other related products including
group life, accident and disability insurance. Cigna maintains
sales capability in 30 countries and jurisdictions, and has more
than 95 million customer relationships throughout the world. To
learn more about Cigna®, including links to follow us on Facebook
or Twitter, visit www.cigna.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170614005208/en/
Cigna CorporationJoseph Mondy,
860-226-5499Joseph.Mondy@Cigna.comorOmada HealthAdam Brickman,
914-548-3748Press@Omadahealth.com
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