Alignment Healthcare one of the most influential insurers centered on Medicare Advantage plans, announced the launch of its initial public offering on March 18 and projected to price its shares between $17 and $19. The company is distinguished for offering generous medicare plans and is said to be using predictive analytics technology to pinpoint senior’s care needs.
- Insurtech Startup Alignment Healthcare has, at last, began its much anticipated IPO, which endeavors to raise between $462 million and $516 million as profit. The company formulated in its filing that it intends to use the money for working capital, create corporate purpose, and possibly some debt repayment.
- Trading on the NASDAQ under the symbol “ALHC” this Orange-based healthcare provider intends to use its IPO proceeds for capital investments and other general corporate purposes, which included continuous ventures in growth and to reimburse potential debts.
- The IPO comes after Oscar Health which also offers Medicare Advantage plans, including 5.5 million in stock to be offered by some existing stockholders. ALHC has also souped-up its plans with perks as in-home and “virtual” medical visits and a 24/7 concierge service.
- Founder and CEO John Kao wrote in the filling, “ I had decided to launch the company in 2013 after caring for my ailing mother and a disabled brother seeing how fragmented and disconnected our healthcare system can be”. Currently, Alignment excises in California, Nevada, and North Carolina and has almost 80,000 members.