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This past year has been marked by the sheer number of healthcare-focused companies that decided to go public, particularly those with a technology focus or component.
Health insurance provider Oscar filed for an initial public offering, quietly in December.
Filing as Mulberry Health, the New York-based company, co-founded by Josh Kushner and led by Mario Schlosser, said it had submitted a draft registration for an IPO to the U.S. Securities and Exchange Commission, but did not disclose the size nor price range for the proposed offering.
Oscar’s most recent valuation was $3.2 billion, Bloomberg News reported.
The news comes on the heels of a Dec. 17 announcement that the company raised $140 million in a round of funding led by Tiger Global Management. That round follows a July announcement of $225 million in funding to give Oscar approximately $1.6 billion raised in total since its inception in 2012.
In 2021, Oscar will expand into new states and counties. The payer will enter Oklahoma, Iowa, North Carolina and Arkansas while expanding in existing markets, including Arizona, Florida, Pennsylvania, California and Ohio.
Oscar also launched a program in certain areas that allows for unlimited virtual visits with a primary care provider for no out-of-pocket costs.
Oscar insures more than 420,000 people in 18 states, representing 211 counties, through three types of insurance plans: individual and family, small group and Medicare Advantage.
Earlier this year, Oscar partnered with insurance giant Cigna to reach more patients in the small business markets.
The Oscar IPO follows that of fellow venture-backed insurtech company Lemonade, which began trading in July on the New York Stock Exchange.
What’s next for the Oscar team?
