Worth-based healthcare platform Signify Well being is making its debut on the New York Inventory Trade right this moment with an preliminary public providing of 23,500,000 shares of its Class A typical inventory at $24 per share.
The corporate upwardly revised its IPO twice since submitting with the Securities and Trade Fee final month. It initially deliberate to supply 23.5 million shares priced between $17 and $19, after which upped the value vary to $20 to $21.
With the IPO, Signify Well being now has a valuation of greater than $5.3 billion, in line with the corporate.
Signify Well being can be providing the underwriters a 30-day choice to buy a further 3,525,000 shares on the IPO worth much less underwriting reductions and commissions.
The shares will likely be traded beneath the ticker image SGFY. The providing is predicted to shut on February 16.
WHY THIS MATTERS
With the cash raised from the IPO, Signify Well being will repay the charges related with the providing, in addition to any basic company bills. It’ll additionally use the proceeds to put money into, or doubtlessly purchase, different companies or applied sciences that complement Signify Well being’s enlargement efforts, in line with its announcement.
Signify Well being’s platform works with suppliers and payers to create value-based cost packages. It combines expertise and analytics to align monetary incentives round outcomes. The platform additionally affords instruments for its customers to evaluate and handle danger. Via it, the corporate searches for methods to enhance affected person outcomes and cut back prices.
THE LARGER TREND
Earlier than setting its sights on the general public market, Signify Well being moved into the blockchain area with its acquisition of PatientBlox. The deal allowed Signify Well being to hurry up its potential supplier cost capabilities and to increase its foothold within the value-based-care area.
The corporate additionally flexed its partnership with Independence Blue Cross to launch CommunityLink, a community-based-organization community focusing on social determinants of well being within the Philadelphia area. This system is designed to interrupt the boundaries between social and scientific care by serving to folks achieve entry to nonmedical well being providers reminiscent of meals, housing, transportation and extra, the businesses mentioned.
Signify Well being is amongst a rising record of digital well being firms to go public inside latest months, together with Oscar, 23andMe, Hims and Hers, Talkspace, Amwell and Butterfly Community.