Oscar Health launches IPO

Portfolio company of Sanno Capital launches share sale on the New York Stock Exchange

  • Oscar Health will initialize the sale of company shares on the NYSE on March 03, 2021, as a digital health insurance company
  • The issue price of the Sanno Capital-funded company starts at $39.00, with Goldman Sachs, Morgan Stanley and Allen & Company acting as lead managing bookrunners

Munich, March 02, 2021 – End of 2020, the management of Oscar Health, a portfolio company of Sanno Capital, announced its plans to go public. Now, the public sale of the company’s shares will begin on March 03, 2021, with the shares trading on the New York Stock Exchange under the ticker symbol “OSCR.” Oscar Heath is thus offering public investors the opportunity to become part of the large digital insurance provider by March 05, 2021. Expectation is a significant funding boost as a result. The shares are being offered at a price of $39.00, Goldman Sachs & Co. LLC, Morgan Stanley and Allen & Company LLC are acting as lead managing bookrunners for the proposed offering.

Sanno Capital supported the innovative company from the digital health industry right from the start as one of the first investors. Oscar Health is using a mix of technology, provider partnerships and member experience trying to make health insurance pricing more transparent for patients while allowing physicians more flexible payment models. Oscar’s market debut comes amid strong interest in virtual health companies as Americans seek alternatives to traditional inpatient care.

“I am very pleased that the company can now take the next step. Oscar Health is a very innovative and forward-looking company in the field of digital health - a digital health insurance that aims to help people live a better life. I congratulate them on this development and look forward to a continued productive collaboration” says Florian Moerth, Managing Director of Sanno Capital.

About Oscar Health
Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the health care system’s status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of approximately 540,000 members as of March 31, 2021. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to others within the provider and payor space. Our vision is to refactor health care to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.

For more information: www.hioscar.com

About Sanno Capital
At Sanno Capital, we recognize tomorrow’s problem solvers and help them turn bright ideas into world-changing companies. Embedded in a top-class network of venture capital experts, we support founders with capital, expertise and contacts. Sanno Capital is one of Germany’s leading venture capital firms focusing on impact investment in the areas of healthcare, technology and mobility. The core objective of Sanno Capital is to invest in companies and founders who want to solve the social and ecological problems of our time and thereby improve the quality of life of mankind.

The active portfolio includes companies such as Konux, Oura and Bird. Sanno Capital was founded in 2014 by Florian Moerth. Over the past ten years, Sanno Capital has facilitated both early and late stage investments for a variety of companies.

Further information: https://sannocapital.com/

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