Oscar Health IPO Launches with $6.7B Valuation Goal

Oscar Health is taking a big leap with its IPO, aiming for a valuation of $6.7 billion.

The company's IPO marks a significant milestone in the healthcare industry, with Oscar Health seeking to expand its reach and offerings.

Oscar Health's IPO is a major step towards becoming a leading player in the health insurance market.

The company's goal of a $6.7 billion valuation is a testament to its growth and potential for future success.

Oscar Health is launching its initial public offering (IPO) after filing for it with the Securities and Exchange Commission (SEC) in March 2021.

The company plans to list on the NYSE under the ticker symbol OSCAR.

Oscar Health's IPO filing revealed a projected valuation of $6.9 billion.

Oscar Health is planning to list on the NYSE under the ticker symbol OSCR.

The company's IPO is expected to be one of the largest in the healthcare industry this year.

Oscar Health's S-1 filing shows that the company has lost $1.4 billion since its inception in 2012.

The IPO is expected to raise around $1.2 billion in funding for the company.

Oscar Health has a strong presence in the individual and family health insurance market, with over 400,000 members as of 2022.

The company has also expanded its services to include Medicare Advantage plans, which are expected to contribute significantly to its growth.

Oscar Health's financial performance has been flagging, with a reported operating loss of $402.3 million last year, compared to a smaller operating loss of just $259.4 million in 2019.

The company's net loss snowballed to $406.8 million last year, compared to a net loss of $261.2 million in 2019, despite steady growth since its founding in 2012.

Oscar Health has received at least $1.7 billion from numerous investors, including Google parent company Alphabet.

The company's revenue last year was $462.8 million, down more than 5% from 2019's top line.

Oscar Health plans to use the fresh capital from its IPO to repay loans and fund growth, tech development, and capital expenditures.

The company's growth opportunity includes inking agreements with third-party plans, which it believes will help monetize its platform through risk-sharing partnerships or fee-based service arrangements.

Oscar Health signed a deal in January to take over certain administrative and back-end functions for Health First Shared Services, and will give members of its Florida-based plan subsidies access to its technology platform starting in 2022.