Signify Health, which provides a platform for in-home healthcare services and value-based payment programs, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Signify Health is a leading healthcare platform that leverages analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Its customers include health plans, governments, employers, health systems, and physician groups. Its episode payment platform managed $6.1 billion of spend under the Medicare Bundled Payment for Care Improvement Advanced (BPCI-A) program in 2019, and the BPCI-A episodes it managed initiated in the 4Q19 resulted in approximately 15% greater discharges home from acute-care facilities and approximately 10% lower readmissions. Its mobile network of providers entered over 1 million unique homes to evaluate individuals in Medicare Advantage and other managed care plans in 2019.
The Norwalk, CT-based company was founded in 2017 and booked $550 million in revenue for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol SGFY. Signify Health filed confidentially on October 20, 2020. Goldman Sachs, J.P. Morgan, Barclays, Deutsche Bank, BofA Securities, UBS Investment Bank, Baird, Piper Sandler and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
