Credit Suisse July 14, 2020
An Underpenetrated, Attractive TAM Driven by Growing Chronic Care Population. We initiate coverage of Livongo, a digital health platform providing its members with solutions for their chronic health conditions, with an Outperform rating and $132 TP. LVGO operates in a highly underpenetrated and growing chronic care market. With a little over $350 mln in annual rev (CS 2020 est), LVGO is barely scratching the surface in a market which the company sizes at $46.7 bln (combined TAM for U.S. opportunities in diabetes & hypertension). We believe this estimate is conservative for four reasons: 1) LVGO uses chronic disease prevalence and population estimates using 2015 data, which have moved exponentially higher today; 2) TAM does not incorporate its other solutions, Prediabetes...
Today's Sponsors
Today's Sponsor