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Research: July Digital Health IPOs, M&A Activity, Public Company Performance Summary
HIT Consultant August 6, 2019
Digital Health IPOs in July
Breaking the digital health IPO drought, there were four initial public offerings (IPOs) during a five-week period from late June to late July, including Livongo, Health Catalyst, Phreesia, and Change Healthcare. The last health IT companies to reach IPO were iRhythym Technologies and Tabula Rasa Healthcare in late 2016 – representing an almost three-year IPO drought.
On July 25, Livongo (chronic care management) shares jumped 36% on the first day of trading to close at $38.10 after issuing at $28/share. The closing price valued the company at approximately $3.5 billion or 27.3x run-rate Q1 2019 revenue. Year-over-year Q1 revenue increased 157% to $32.1mm.
Also on July 25, Health Catalyst (healthcare analytics) shares...
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