Signify Health Inc., which offers a value-based care platform that uses advanced analytics and other technology to help move health services from medical facilities to the home, is looking to raise $100 million in its initial public offering, filed this week with the U.S. Securities and Exchange Commission.
Signify, which will trade under the “SGFY” ticker symbol, maintains headquarters in both Norwalk and Dallas.
Goldman Sachs & Co. LLC, J.P. Morgan, Barclays and Deutsche Bank Securities are acting as lead bookrunner agents for the proposed offering; details on the number of shares to be offered and their price range have yet to be determined.
Signify, which launched in December 2017, counts among its customers health plans, governments, employers, health systems, and physician groups.
“We believe that these core businesses have enabled us to become integral to how health plans and health care providers successfully participate in value-based payment programs, and that our platform lessens the dependence on facility-centric care for acute and post-acute services and shifts more services towards alternate sites and, most importantly, the home,” the company said in a statement.
According to its SEC filing, Signify”™s total revenue was $502 million for the year ended Dec. 31, 2019, up 48% from $338 million in 2018; it recorded a net loss of $28 million for the year. For the nine months ended Sept. 30, 2020, total revenue was $417 million, alongside losses of $15 million.
