Health Catalyst, which provides a data analytics platform and services to healthcare organizations, raised the proposed deal size for its upcoming IPO on Tuesday by increasing both its proposed range and shares.
The Salt Lake City, UT-based company now plans to raise $172 million by offering 7 million shares at a price range of $24 to $25. The company had previously filed to offer 6 million shares at a range of $20 to $23. At the midpoint of the revised range, Health Catalyst will raise 33% more in proceeds than previously anticipated and would command a fully diluted market value of $978 million.
Health Catalyst was founded in 2008 and booked $127 million in revenue for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol HCAT. Goldman Sachs, J.P. Morgan, William Blair, Piper Jaffray, Evercore ISI and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of July 22, 2019.
