Submitted by Folake Dosu on Wed, 06/26/2019 - 03:19

healthcare-technology-phreesia-ipo

Patient intake platform Phreesia announced this week that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to a proposed IPO.

The healthcare technology company will be trading in the New York Stock Exchange under the ticker symbol "PHR." 

According to the press release, J.P. Morgan, Wells Fargo Securities and William Blair are acting as joint book-running managers for the proposed offering while Allen & Company LLC and Piper Jaffray are participating as passive book-running managers.

The road to this IPO began in 2005 when the company was founded by CEO Chaim Indig and COO Evan Roberts, both of whom remain at the helm. Since its start as patient check-in solution, the company has expanded into payment, appointments, patient surveys, clinical support and more, as MobiHealthNews reports. Along the way, Phreesia has raised more than $100 million from investors such as Echo Health Ventures and Blue Cross Blue Shield Ventures. 

"In fiscal 2019, we facilitated more than 54 million patient visits for approximately 50,000 individual providers, including physicians, physician assistants and nurse practitioners, in nearly 1,600 healthcare provider organizations across all 50 states."

The company’s strong organic revenue growth and recent profitability as outlined in its S-1 also bode well for its IPO, which, as the outlet also notes, would be the first major digital health IPO in three years.

"In fiscal 2019, we facilitated more than 54 million patient visits for approximately 50,000 individual providers, including physicians, physician assistants and nurse practitioners, in nearly 1,600 healthcare provider organizations across all 50 states," the company writes in its S-1. "Additionally, our Platform processed more than $1.4 billion in patient payments during this time."

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