Omada said the recent funds — which the company hopes to use to become “sustainable and profitable” — shed light on new goals, the company wrote in a statement to CNBC.
“It became clear we had to focus on Omada’s core business and expertise, while orienting the company for long-term success,” according to the statement. “Today we took the difficult but necessary steps that will allow Omada to continue its maturation as a leader in the digital health industry.”
Omada, which has raised more that $120 million to date, sells its behavioral medicine and diabetes prevention program to self-insured employers and payers.
More articles on health IT:
HITRUST CEO to Senate: HHS’ cybersecurity center duplicates private industry’s role
Patient safety monitoring IT company hires CFO
Patientco, Epic integrate platforms for enhanced patient payments
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
