Fierce Healthcare March 26, 2021
Startup Medicare Advantage insurer Alignment Health went public Friday, listing its stock on the Nasdaq at $18 per share.
That pricing would raise $489.6 million for the company with 27.2 million shares made available on the exchange Friday. Alignment Healthcare will trade on the Nasdaq under the ticker “ALHC.”
The initial public offering is expected to close March 30, the company said in an announcement. The IPO price lands in the middle of the company’s projections of between $17 and $19 per share, according to filings with the Securities and Exchange Commission (SEC).
Alignment Healthcare offers an artificial-intelligence-enabled MA plan, and it ended 2020 with 68,323 members, growing 38.5% over 2019. The company launched in 2013 and has seen consistent...
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