CHCF Invests in Omada Health
Omada Health will use funds to expand services to underserved populations
The California HealthCare Foundation (CHCF) today announced a $450,000 investment in Omada Health, a company that develops online behavioral medicine programs to prevent chronic disease.
Omada’s first product, Prevent, is an online diabetes prevention program (DPP) for individuals with prediabetes. Prevent is based on guidelines published by the National Diabetes Prevention Program and is credited for helping patients lose weight and make the sort of lifestyle changes shown to help reduce the risk of type 2 diabetes. Prevent engages participants with an evidence-based curriculum, a supportive social network, the guidance of a personal health coach, and digital tracking tools that include a wireless scale and mobile app.
“CHCF invested in Omada Health because their online solution has the potential to make prevention more engaging, affordable, and effective for patients, leading to better outcomes and lower health system costs,” said Margaret Laws, director of the CHCF Innovations for the Underserved program, which manages the CHCF Health Innovation Fund.
The CHCF investment in Omada Health is directed at creating a Spanish-language version of Prevent and piloting the product with underserved patients. Also The Kresge Foundation has invested $500,000 in Omada Health through their social investment practice. The two foundations are currently accepting applications to their joint investing initiative, Partnering for Impact, which seeks to invest at least $5 million in companies that can help community health centers improve health care access, efficiency, and affordability.
About Omada Health
Omada Health is pioneering a new class of medicine called digital therapeutics. The company believes that technology will redefine behavioral medicine and bring a new future to the 75% of Americans who will die prematurely from preventable lifestyle-related chronic conditions. Omada Health’s flagship product, Prevent, is the first-ever online diabetes prevention program for the general public. For more information, visit www.omadahealth.com.
About the California Health Care Foundation
The California Health Care Foundation is dedicated to advancing meaningful, measurable improvements in the way the health care delivery system provides care to the people of California, particularly those with low incomes and those whose needs are not well served by the status quo. We work to ensure that people have access to the care they need, when they need it, at a price they can afford.