Livongo Health, which provides a unified healthcare platform for chronic illness management, announced terms for its IPO on Monday.
The Mountain View, CA-based company plans to raise $230 million by offering 10.7 million shares at a price range of $20 to $23. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, Livongo Health would command a fully diluted market value of $2.4 billion.
Livongo Health was founded in 2008 and booked $88 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol LVGO. Morgan Stanley, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of July 22, 2019.
