Oscar Health, Inc. (Oscar) filed plans to become a publicly traded company with the U.S. Securities and Exchange Commission (SEC). No date for the proposed initial public offering of its Class A common stock has been released. The filing listed the size of the offering as $100 million.
Oscar is a health insurance company founded in 2012 that uses a full-stack (both front-end and back-end) technology platform to facilitate services for members. Oscar offers individual and family, small group, and Medicare Advantage plans. The plans cover 24/7 telemedicine visits at no additional cost, a mobile application to facilitate integrated direct scheduling with network provider organizations and clinical professionals, as well as a personalized Care Team that supports members every step of the way, from finding a health care professional to navigating costs. As of January 31, 2021, the company reported 529,000 members in 18 states across the United States.
Goldman Sachs & Co. LLC, Morgan Stanley and Allen & Company LLC are acting as lead managing bookrunners for the proposed offering with Wells Fargo Securities as managing bookrunner. Band of America Securities and Credit Suisse are also acting as bookrunners. Cowen and LionTree are acting as co-managers, with Ramirez & Co., Inc. and Siebert Williams Shank as junior co-managers for the proposed offering.
This was reported by Oscar Health on February 5, 2021.
Contact Information: Oscar Health, 295 Lafayette Street, New York, New York 10012; 202-538-0128; Website: www.hioscar.com