Worth-based healthcare platform Signify Well being is making its debut on the New York Inventory Trade proper this second with an preliminary public offering of 23,500,000 shares of its Class A typical stock at $24 per share.
The company upwardly revised its IPO twice since submitting with the Securities and Trade Fee ultimate month. It initially deliberate to produce 23.5 million shares priced between $17 and $19, after which upped the worth differ to $20 to $21.
With the IPO, Signify Well being now has a valuation of larger than $5.3 billion, in keeping with the company.
Signify Well being might be offering the underwriters a 30-day alternative to purchase an additional 3,525,000 shares on the IPO value a lot much less underwriting reductions and commissions.
The shares will possible be traded beneath the ticker picture SGFY. The offering is predicted to close on February 16.
WHY THIS MATTERS
With the money raised from the IPO, Signify Well being will repay the fees associated with the offering, along with any fundamental firm payments. It’ll moreover use the proceeds to place cash into, or doubtlessly buy, completely different firms or utilized sciences that complement Signify Well being’s enlargement efforts, in keeping with its announcement.
Signify Well being’s platform works with suppliers and payers to create value-based price packages. It combines experience and analytics to align financial incentives spherical outcomes. The platform moreover affords devices for its clients to judge and deal with hazard. Via it, the company searches for strategies to reinforce affected particular person outcomes and reduce costs.
THE LARGER TREND
Earlier than setting its sights on most people market, Signify Well being moved into the blockchain space with its acquisition of PatientBlox. The deal allowed Signify Well being to rush up its potential provider price capabilities and to extend its foothold inside the value-based-care space.
The company moreover flexed its partnership with Independence Blue Cross to launch CommunityHyperlink, a community-based-organization neighborhood specializing in social determinants of properly being inside the Philadelphia space. This system is designed to interrupt the boundaries between social and scientific care by serving to of us obtain entry to nonmedical properly being suppliers harking back to meals, housing, transportation and further, the companies talked about.
Signify Well being is amongst a rising document of digital properly being companies to go public inside newest months, along with Oscar, 23andMe, Hims and Hers, Talkspace, Amwell and Butterfly Community.