Initial public offerings or IPOs are known as a great way for investors to get good returns in a relatively short time. On average, they can bring 40% in the first 3 months. IPOs are a common way for companies to continue their growth by becoming public and selling their shares on the open market. If you know about the insurance business you may have asked, “is Oscar Health publicly traded?” Read on to find out about Oscar Health stock IPO and all the important information about Oscar Health IPO date and price.
Oscar Health History
Oscar Health is an insurance tech company whose goal is to simplify insurance and billing. The company traces its roots back to 2012, when Mario Schlosser, Josh Kushner and Kevin Nazemi founded the company in order to make health insurance easier to understand and more consumer-friendly. In 2014, Oscar released its first product in New York City — an individual plan offered through NY State of Health’s marketplace.
Since then, Oscar has continued to expand its products and geographical coverage, with plans now available in New York, California, Texas, Ohio and New Jersey. In addition to individual plans on the marketplace, Oscar also offers Medicare Advantage plans and small business insurance.
Oscar’s main focus is its technology-driven approach to health insurance. The company emphasizes consumer experience, and its app is designed to make it easy for customers to access their benefits, view claims, find doctors and book appointments. Oscar also employs a team of health advocates who help members navigate the complex healthcare system.
Oscar isn’t just about insurance – it prioritizes preventive care and wellness services for its members. In 2017, the company launched Oscar Prime – a free primary care membership that provides unlimited access to telemedicine and in-person preventive services with no copay or deductible.
Oscar is making strides towards improving healthcare for all its members. With its innovative technology, consumer-friendly approach and commitment to preventive care, Oscar Health is revolutionizing the health insurance industry.
By offering a personalized and user-friendly experience, Oscar is making healthcare more accessible for everyone. It’s no wonder the company has quickly become one of the most popular health insurers in the country. As Oscar continues to grow, it will continue to redefine the way people receive and use healthcare.
This is Oscar Health’s history and its ongoing mission to revolutionize the health insurance industry. With its commitment to consumer experience and preventive care, Oscar is transforming the way people access and use healthcare – making it easier than ever before.
Oscar’s app is among the most downloaded apps in the industry and very high community engagement. The Oscar App lets members see their health history, find and talk to a doctor or their Care Team, and other functions.
In summary, Oscar Health History has been at the forefront of modern approaches to insurance, so by the time the stock market entered the massive tech bull run in 2020-2021, the management must have started asking themselves, “when is Oscar Health going public?” Read on to find out about Oscar Health IPO 2021 and other key info.
Oscar Health Public Listing Key Data and IPO Date
Oscar Health IPO Date: March 3, 2021
IPO stock price: $39
Valuation at IPO: $9.5 billion
Market cap (12/6/22): $597 million
CEO: Mario Schlosser
Category: Insurance tech
Oscar Health launched its IPO on the NYSE on March 2, 2021 under the stock symbol OSCR.
The day before the company increased its IPO offering from 31 million to 37 million shares, raising $1.44 billion. The Oscar Health IPO price was set at $39 but opened at $36 on the first day of trading, closing 10.7% down.
The starting price gave the company a $7.1 billion market cap.
Mario Schlosser, CEO and co-founder, who owned 57,000 Oscar shares worth around $150k as well as a salary of over $650k, had a total net worth of $15 million as of December 2021.
So What About Investing Now?
While Oscar remains a good business with a big member base, the Oscar Health IPO was far from a success. The stock price kept falling from their IPO date and is now 92% down from the launch. This is common for many tech IPOs that launched around this time as capital flowed out of smaller companies and recent IPOs into more reliable investments.
As of December 2022, the stock trades at just $2.7 and the company’s market cap is just $597 million ( 12/5/22). The stock tends to get hold ratings, and of course if we are to see a bull run anytime soon, the price will likely go up again.
Investments like IPOs are speculative and much riskier than big companies with proven business models, robust earnings, and potential to scale. While it’s fun to try, don’t rely on IPOs to bring you money, timing the market is hard. An even better approach is to build a balanced portfolio of stocks in an industry you know or believe in. Download Gainy to check out TTF stock collections to invest in themes you like.
Check out our IPO section to look at other scheduled IPOs. If you want to find companies that match your interests, investment goals and portfolio, try Gainy for some great IPO investment ideas, as well as established blue-chip companies and a variety of other assets.
Is Oscar Health a public company?
Yes, the Oscar Health stock IPO date was March 3, 2021. The insurance tech company was listed on the Naw York Stock Exchange with the ticker OSCR.
Is Oscar Health Software Inc. a SPAC?
Oscar Health went public via a traditional IPO instead of via a special purpose acquisition company (SPAC). The latter was a popular way for companies to go public in 2020-21 but many of these launches didn’t do very well.