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January 2, 2015

Healthcare analytics provider Inovalon files $500m IPO

Number of shares and expected price range for the offering remains undisclosed.

By Amy-Jo Crowley

Inovalon, a startup that provides analytics for the healthcare industry, has filed for an IPO with US regulators to the value of $500m.

The company, based in Maryland, is looking to list its Class A common stock on the NASDAQ Global Select Market, though it did not reveal the number of shares and expected price range for the offering.

Morgan Stanley, Goldman Sachs and Citigroup are acting as the joint book-running managers for the offering, while BofA Merrill Lynch and UBS Investment Bank are co-managers.

Inovalon, which works with hospitals, physicians, pharmaceutical companies and researchers to drive insights in healthcare outcomes, said it expects to use the net proceeds from the offering for working capital.

The company, which competes with Oracle, IBM and IT consultant Accenture, said net income for the nine months ending in September 2014 hit $51.9m, up from $27m a year earlier.

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