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Diabetes startup Omada Health has confidentially filed its S-1 for an IPO, BI has learned. Fellow healthcare startup Hinge Health has hired banks as it prepares to confidentially file its S-1. AdvertisementRumors about diabetes startup Omada Health's public market debut have been swirling for years. Omada Health confidentially filed its S-1 this summer to go public, according to one person with knowledge of the transaction. After 20 healthcare startups went public in 2021, only one healthcare company went public the following year — Akili Interactive, which sold for $34 million this July.
Persons: , Health confidentially, It's, Sean Duffy, Morgan Stanley, Cameron Lester, Ben Narasin, Duffy, Omada Organizations: BI, Service, Health, Lyra, Tempus, Jefferies, Venture, Amazon
Only one digital health startup went public in the US in 2022 — digital therapeutics company Akili Interactive, whose shares have since crashed a whopping 97%, per MarketWatch. Not a single healthcare startup went public last year. ArriVent Biopharma went public a few days later, bringing in $175 million. AdvertisementIndustry experts remain skeptical about whether the public markets will be ready for a successful healthcare IPO this year. Business Insider has identified seven startups that could be considering an IPO as the markets reopen, based on conversations with top VCs and bankers and public filings.
Persons: , Metagenomi, ArriVent Biopharma Organizations: Service, Business, Akili Interactive, Alto Neuroscience, Oncology, BrightSpring Health Services, KKR, Walgreens, Industry
People with ADHD may face some barriers to success in corporate environments, a psychologist told Business Insider. AdvertisementPeople with attention-deficit/hyperactivity disorder may struggle to keep up with their peers in the corporate workplace and could be "passed over for promotions," a clinical psychologist told Business Insider. Dr. Scott Kollins, chief medical officer at Akili Interactive and a clinical psychologist, told BI about some of the barriers professionals with ADHD can face in corporate environments. AdvertisementKollins explained that ADHD symptoms, like the ones experienced by Trefren, can frequently show up in the workplace. Watkins advises people to disclose their condition in the workplace if they feel comfortable so that employers can be accommodating.
Persons: Dr, Scott Kollins, , Kollins, Sarah Trefren, Trefren, you'll, Bryan Watkins, Watkins, wean Organizations: Service, Akili Interactive, Trefren, California Republican Party
SVB Securities' Jon Swope thinks some digital-health startups will IPO in the second half of 2023. In 2021, 15 US-based digital-health companies went public via IPO, according to Rock Health. Only one digital-health company has gone public this year: Akili Interactive Labs, which went public in August in a SPAC deal. Seeing the writing on the wall, digital-health companies like Komodo Health that sought to IPO this year are now putting those plans on hold. But SVB Securities' Jon Swope said he thinks the IPO market will reopen for certain digital-health companies in the second half of 2023.
Komodo Health has ditched its plans for an initial public offering in the near future. Digital health's IPO desertGlobally, only six digital health companies have gone public via IPO in 2022 so far, according to a report by Galen Growth and Finn Partners. Besides Komodo, two other digital health companies were said to be pursuing an IPO earlier this year before the market slipped. "The IPO market is shut right now, for all intents and purposes," said Jon Swope, who leads SVB Securities' digital health and healthtech business. "How soon will we see the return of that for the IPO market?"
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