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/Lion Tree/Ramirez & Co./Siebert Williams Shank
Expected To Trade: 3/3/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change