Healthcare Triangle, which provides data science and AI-enabled healthcare information solutions, filed on Monday with the SEC to raise up to $40 million in an initial public offering.
The Pleasanton, CA-based company plans to raise $40 million by offering 8 million shares at a price range of $4.50 to $5.50. At the midpoint of the proposed range, Healthcare Triangle would command a fully diluted market value of $210 million.
Healthcare Triangle offers a suite of software and services that allow healthcare and pharmaceutical organizations deliver personalized healthcare, precision medicine, advances in drug discover, and collaborative research and development. The company offers its proprietary software platforms, CloudEz and DataEz, as well other healthcare IT services primarily to life sciences, biotech, healthcare providers, and payers.
Healthcare Triangle was founded in 2019 and booked $34 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol HCTI. EF Hutton is the sole bookrunner on the deal.
