Oscar Health, Inc.
General Information | |
Business: | At Oscar, we make a healthier life accessible and affordable for all. Oscar is the first health insurance company built around a full stack technology platform and a relentless focus on serving our members. We started Oscar over eight years ago to create the kind of health insurance company we would want for ourselves—one that behaves like a doctor in the family, helping us navigate the health care system in our moments of greatest need. In the years since, we have built a suite of services that permit us to earn our members’ trust, leverage the power of personalized data, and help our members find quality care they can afford. We call this our member engagement engine, and it is powered by a differentiated full stack technology platform that will allow us to continue to innovate like a technology company and not a traditional insurer in the years ahead. After eight years of selling health insurance, we are proud to have earned industry-leading levels of trust, engagement, and customer satisfaction from the 529,000 members who, as of Jan. 31, 2021, have chosen Oscar. We serve 291 counties in 18 states. (*Revenue and net loss figures are for the year ended Dec. 31, 2020, according to the prospectus: $1.672 billion in revenue and a net loss of $406.83 million, compared with year-end 2019 figures of $1.041 billion in revenue and a net loss of $261.18 million.) (Note: Oscar Health upsized its IPO at pricing on March 2, 2021: 37 million shares, up from 31 million, at $39 – above the upwardly increased price range of $36 to $38 – to raise $1,444.6 million, or $1.4446 billion. The company had increased the price range to $36 to $38, up from $32 to $34 initially, while keeping the number of shares at 31 million in an S-1/A filing dated March 2, 2021, the same date as its expected pricing.) |
Industry: | Insurance - Hospital & Medical Service Plans |
Employees: | 1839 |
Founded: | 2012 |
Contact Information | |
Address | 75 Varick Street, 5th Floor New York, New York 10013 |
Phone Number | (646) 403-3677 |
Web Address | |
View Prospectus: | Oscar Health, Inc. |
Financial Information | |
Market Cap | $7921.8mil |
Revenues | $1672.0 mil (last 12 months) |
Net Income | $-406.83 mil (last 12 months) |
IPO Profile | |
Symbol | OSCR |
Exchange | NYSE |
Shares (millions): | 37.0 |
Price range | $39.00 - $39.00 |
Est. $ Volume | $1444.6 mil |
Manager / Joint Managers | Goldman Sachs/Morgan Stanley/Allen & Co./ Wells Fargo Securities/BofA Securities/Credit Suisse |
CO-Managers | Cowen and Company/Lion Tree/Ramirez & Co./Siebert Williams Shank |
Expected To Trade: | 3/3/2021 |
Status: | Priced |
Quiet Period Expiration Date: | Available only to Subscribers |
Lock-Up Period Expiration Date: | Available only to Subscribers |
SCOOP Rating | Available only to Subscribers |
Rating Change | Available only to Subscribers |