GoodRx Holdings, which operates a prescription drug price comparison platform, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $750 million.
From its beginnings as a price comparison tool for prescriptions, GoodRx's platform now provides access to price transparency and affordability solutions for medications, affordable and convenient medical provider consultations via telehealth, and additional healthcare services and information.
The Santa Monica, CA-based company was founded in 2011 and booked $472 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol GDRX. GoodRx Holdings filed confidentially on July 2, 2020. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, BofA Securities, Citi, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Cowen, Deutsche Bank and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
