Omada Health: Leading the Digital Therapeutics Revolution
Today, we’re proud to announce a new investment in the ground-breaking digital health company, Omada Health. The $48 million in Series C funding will be used to meet market demand for the company’s innovative online Prevent program—a program that effectively reduces the risk for obesity-released diseases such as type 2 diabetes and heart disease—and expand the company’s rigorous clinical research on engagement and outcomes. Combining proven behavioral science and the power of social networking with cutting-edge technology and world-class design, Omada is delivering clinically meaningful results for a tipping point population – those most at-risk for developing obesity-related chronic diseases.
When we first met with Omada Health co-founders Sean Duffy, Adrian James, and Andrew DiMichele in 2011, we were immediately inspired by Omada’s mission and demonstrated efficacy. Since their launch in 2011, they have been named Fast Company’s ”Most Innovative” U.S.-based health care company and enrolled more than 20,000 people in Prevent.
Delivering Preventive Healthcare Digitally
Omada is truly at the forefront of a digital revolution in delivering preventive healthcare—helping to reduce the risk of illnesses such as type 2 diabetes and cardiovascular disease with Prevent, a 16-week Web-based weight loss program. Prevent combines the support and individualized coaching of programs like Weight Watchers with the latest in digital technology and world-class design—helping to make weight loss and chronic disease prevention programs available to large numbers of people in an appealing online format.
Omada is the first digital health company to publish peer-reviewed results showing that participants at risk for type 2 diabetes could maintain significant reductions in body weight and blood sugar levels two years after starting the program. It’s also one of the first to receive pending recognition from the Centers for Disease Control for meeting the evidence-based standards of the National Diabetes Prevention Program.
The Prevent program combines smart technology such as a wireless scale pre-synced to a participant’s account, a proprietary health-related curriculum, and on-demand access to a personal health coach. An online peer network—composed of like-minded participants who want to reduce weight and risk for chronic illness—provides support for those at the tipping point for obesity-related diseases such as congestive heart failure, type 2 diabetes, and hypertension.
Impressive Health Outcomes
Prevent is utilized by health plans and employers such as Lowe’s, Costco, and Iron Mountain. The company operates on a pay-for-outcomes pricing model in which it is paid only for participants who lose 5% or more of their body weight—weight loss that can result in a 50% reduction in risk for type 2 diabetes. A recent study published in The Diabetes Educator showed that 187 Prevent participants with prediabetes achieved an impressive average of 5% weight loss at 16 weeks and 4.8% weight loss at one year. In the study, Prevent participants also achieved an almost 40% reduction in A1C levels.
In May, the Department of Veteran Affairs reported that Omada’s Prevent had clinical outcomes similar to comparable in-person programs for veterans. Seniors enrolled in Prevent through Medicare Advantage have also shown outstanding engagement with the program, and are achieving clinically meaningful results.
With its new round of funding, Omada can further expand to have a greater impact on disease prevention. We’re confident that Omada can help the millions of individuals who are susceptible to chronic conditions like type 2 diabetes and cardiovascular disease.
Learn more about Omada Health at www.omadahealth.com