Alignment Healthcare, which provides Medicare Advantage plans to seniors, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Alignment provides Medicare Advantage plans that are customized to meet the needs of individual seniors. Its current product portfolio consists of products tailored that account for factors such as health condition, socioeconomic status, and ethnicity. Alignment also provides additional services such as transportation, pet care, grocery benefits, companion care, fitness memberships, a 24/7 concierge, and a clinical service hotline.
The Orange, CA-based company was founded in 2013 and booked $959 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol ALHC. Alignment Healthcare filed confidentially on December 4, 2020. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Securities, William Blair, UBS Investment Bank, Piper Sandler, and Raymond James are the joint bookrunners on the deal. No pricing terms were disclosed.
