Health and Healthcare

Nant Health Announces Potential Pricing for IPO

Chris Lange

Published: May 24, 2016 10:20 am

Last Updated: January 13, 2020 7:39 am

Nant Health registered an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company issued pricing details in this filing, expecting to price its 6.5 million shares in the range of $12.50 to $15.50, with an overallotment option for an additional 975,000 shares. At the maximum price the entire offering is valued up to $115.8 million. The company intends to list on the Nasdaq Global Market under the symbol NH.

The underwriters for the offering are Jefferies, Cowen, First Analysis Securities, Canaccord Genuity and FBR.

This leading next-generation, evidence-based, personalized health care company enables improved patient outcomes and more effective treatment decisions for critical illnesses. Its unique systems-based approach to personalized health care applies novel diagnostics tailored to the specific molecular profiles of patient tissues and integrates this molecular data in a clinical setting with large-scale, real-time biometric signal and phenotypic data to track patient outcomes and deliver precision medicine.

For nearly a decade, Nant Health has developed an adaptive learning system, CLINICS, which includes its unique software, middleware and hardware systems infrastructure that collects, indexes, analyzes and interprets billions of molecular, clinical, operational and financial data points derived from novel and traditional sources, continuously improves decision-making and further optimizes the clinical pathways and decision algorithms over time. As a pioneer in the era of big data and augmented intelligence, the company believes that it is uniquely positioned to benefit from multiple significant market opportunities as health care providers and payors transition from fee-for-service to value-based reimbursement models and accelerate their pursuit of evidence-based clinical practice.

According the filing the company’s mission is:

Our mission is to empower providers to seamlessly act on the best evidence-based information available to better fulfill their roles as caregivers rather than as financial managers, to provide payors with the necessary tools to better fulfill their roles as stewards of an increasingly complex and rapidly evolving healthcare system, to facilitate biopharmaceutical companies to accelerate development of drugs for critical illnesses based upon the unique biology and specific health conditions of patients, and to empower patients with the knowledge to enable active participation in the management of their own health, or self-care.

Nant Health intends to use the net proceeds from this offering for general corporate purposes, to pay roughly $9.0 million to cover withholding taxes, and commercialize new solutions and product extensions and potentially pursue targeted acquisitions.