GoHealth’s shares jumped 23% after it’s initial public offering (IPO) that raised $914 million. The company’s shares surged on its first day of trading as a public company. It’s the largest health care IPO so far in 2020.
GoHealth, a Medicare-focused health insurance marketplace, joins a growing list of technology-enabled health care companies that are testing the public markets. GoHealth has been around for 20 years and operates a health insurance portal offering a variety of plans that allows customers to compare numerous insurance options such as family health plans and self-employed insurance. The company works with more than 300 health insurance carriers and has enrolled more than 5 million people into health plans.The online health insurance marketplace expanded the size of its U.S. IPO and priced the shares above the marketed range. The company sold 43.5 million shares for $21 each.
GoHealth had marketed 39.5 million shares for $18 to $20 each, according to its filings with the U.S. Securities and Exchange Commission. GoHealth said its stock will trade on the Nasdaq Global Market under the ticker symbol “GOCO.” The company intends to hire with its new funds, including 1,000 more licensed insurance agents.
GoHealth’s mission is to improve access to health care in America. GoHealth combines technology, data science, and deep industry expertise to match customers with the health care policy and carrier that is best for them. Since its inception, GoHealth has enrolled millions of people in Medicare and individual and family plans.
This was reported by FireceHealthcare on July 15, 2020.
Contact information: Emily Clemons, Corporate Communications Associate, GoHealth, 214 West Huron Street, Chicago, Illinois 60654, 1-312-226-0027; Email: pressinquiries@gohealth.com; Website: www.gohealth.com
