agilon health, which provides a senior-focused value-based care platform for primary care physicians, raised $1.1 billion by offering 46.6 million shares at $23, the high end of the range of $20 to $23.
Capitalizing on emerging value-based care opportunities, agilon's model provides the necessary capabilities, capital, and business model for existing physician groups to create a Medicare-centric, globally capitated line of business. Since establishing its inaugural partnership with an anchor physician group in 2017, the company now has 16 anchor physician groups across 17 geographies. The primary care physicians on agilon's platform serve approximately 210,000 patients enrolled in Medicare Advantage, and the company grew total membership by 45% in 2020.
agilon health plans to list on the NYSE under the symbol AGL. J.P. Morgan, Goldman Sachs, BofA Securities, Deutsche Bank and Wells Fargo Securities acted as lead managers on the deal.
