Health Insurance Innovations, which offers web-based medical insurance plans for the uninsured and underinsured, announced terms for its IPO on Friday. The Tampa, FL-based company plans to raise $70 million by offering 4.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Health Insurance Innovations would command a fully diluted market value of $200 million. Health Insurance Innovations, which was founded in 2008 and booked $38 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol HIIQ. Credit Suisse, Citi and BofA Merrill Lynch are the joint bookrunners on the deal.
