- Expected IPO schedule: 2021
- Believed IPO valuation: N/A
Oscar wellness’s origins return to 2012, whenever Harvard company Classmates Mario Schlosser, Kevin Nazemi and Josh Kushner (the cousin of Jared Kushner) had a notion to generate a kind that is new of insurance carrier centered on cutting-edge digital technologies. The timing had been spot-on, too, as Oscar wellness would enjoy the rollout associated with the low-cost Care Act (ACA).
Schlosser and Kusnher had individual good reasons for beginning the business. Schlosser, possessed an experience that is bad working with a healthcare facility billing whenever their spouse had been expecting. Kushner had a comparable experience whenever he injured their ankle.
Oscar wellness has raised a lot more than $1.5 billion since its founding. This money ended up being utilized to introduce insurance coverage items for families, small enterprises https://datingrating.net/asiandate-review and people with Medicare Advantage plans. The business additionally has already established success having its telemedicine platform.
General, Oscar wellness boasts approximately 420,000 users, whom collectively have already been good in regards to the service вЂ“ no feat that is easy this area. The business’s web Promoter get is 36, which compares exceedingly positively set alongside the industry average of -12 over the ACA.
Another driver that is potential development had been a strategic partnership with Cigna (CI) to give insurance coverage to smaller businesses, announced during the early October.
Axios reported in that the firm has hired investment underwriting banks to help it prepare for a 2021 offering september.
- Anticipated IPO schedule: 2021
- Projected IPO valuation: $4 billion to $5 billion
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