IPO
Founded in 2012, Oscar has grown to an approximate membership of 529,000, an annual revenue of $1.67 billion and a lifetime accumulated deficit of $1.43 billion.
The company sells connected hearing devices directly to consumers.
The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.
Initially, Amwell planned to sell 35 million shares between $14 and $16 with up to 5.2 million additional shares for underwriters.
Google's cloud division poured in $100 million in funding to the telehealth company, along with the deal.
The listing could happen either later this year or in early 2021, Reuters reports.
The startup's approach combines a low-cost digital-imaging device for hospitals with a comprehensive medical-imaging software platform.
News of the potential sale or merger with a special purpose acquisition company appears at the same time as one-on-one counseling and a key strategic hire.
Also: Google promises not to use Fitbit data for targeted advertising; Renalytix AI details its international IPO; New food tracking app relies on machine learning.
CNBC is reporting that AmWell is looking to go public in September.