Omada Health raises $57M, acquires virtual physical therapy startup

San Francisco-based digital health company Omada Health recently raised $57 million, $30 million of which it used to acquire virtual physical therapy startup Physera, according to CNBC

Perceptive Advisors, a life sciences investment firm, led the financing round to support the Physera acquisition and provide additional support for future growth, according to a news release. 

Omada Health offers digital health programs to support patients with Type 2 diabetes, hypertension and behavioral health issues. By acquiring Physera, Omada Health will now offer members video appointments with a network of licensed physical therapists for diagnosis and treatment as well as digital exercise therapy and in-app animations to help reduce musculoskeletal pain. 

Both Omada and Physera sell to health plans and employers. Omada Health has raised more than $250 million to date, according to CNBC. Last October, the company raised $73 million from investors including Cigna Ventures, Kaiser Permanente and Providence Ventures. 

More articles on digital transformation: 
Lee Health to employ digital technology to limit COVID-19 exposure in potential surge
Fitbit to develop emergency ventilators
'We either have to succeed fast or fail fast': How Houston Methodist's innovation hub is making its mark

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Whitepapers

Featured Webinars