Revenue cycle management company Change Healthcare has filed a prospectus with the Securities and Exchange Commission (SEC) for a $100 million initial public offering (IPO). The company plans to be listed on the Nasdaq Exchange under the trading symbol “CHNG.”
Founded in 2005, the Nashville-based company provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes through its suite of comprehensive suite of software, analytics, technology-enabled services, and network solutions. According to the SEC filing, Change Healthcare has not yet determined the number of shares it will offer and the price range of the offering. For the year the ended March 31, 2018, Change Healthcare reported $3B in revenue, of which 87% was recurring revenue, net income of $192.4M, Adjusted EBITDA of $943.8M and Adjusted Net Income of $449.7M.
Barclays, Goldman Sachs and J.P. Morgan are the joint underwriters on the IPO deal.