Change Healthcare Inc. Raises $557 million. Invest with Admiral Markets!
Change Healthcare Inc. aimed to raise $1 billion in its initial public offering today, with the expected price offering of $16 to $19 per share totalling $936.4 million.
Today, the stock released at $13 under the ticker CHNG. This was below the expected range, and brought the company's total market capitalisation to $557 million.
Who is Change Healthcare?
Change Healthcare is a software-as-a-service platform that is changing medicine. The company has created a platform that includes a full set of software, analytics, technical services, network solutions and payment systems. Their aim is to optimise the interaction between patients, pharmacies, hospitals and research laboratories.
The cost of the targeted market is over $6 trillion. According to the Medicare & Medicaid Services Center, healthcare spending in the United States will grow from $3.6 trillion in 2018 to $6 trillion by 2027, which will be about 19% of GDP.
Change Healthcare received a positive operating cash flow of $325 million in 2018 and $288 million in 2019.
YES it's IPO Time!
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