Income-cycle outsourcing agency Ensemble Well being Companions on Tuesday disclosed new particulars of its deliberate preliminary public providing.
Listed below are the 5 issues to know in regards to the firm’s IPO plans.
1. Ensemble Well being Companions, a Cincinnati-based firm that well being programs, hospitals and doctor teams faucet for outsourcing revenue-cycle administration capabilities, filed for an IPO in September. As soon as it is public, the corporate plans to checklist its Class A standard inventory on the Nasdaq World Choose Market underneath the ticker image “ENSB.”
2. Ensemble Well being Companions on Tuesday stated it will launch the roadshow for its IPO, the place executives pitch the corporate to traders. They plan to supply 29.5 million shares of its Class A standard inventory, with an choice for underwriters to buy an extra as much as 4.425 million shares of Class A standard inventory.
3. The IPO worth for Class A standard inventory is predicted to be between $19 and $22 per share, in response to Ensemble Well being Companions. Which means the corporate may elevate as much as $746.35 million within the IPO, in response to an S-1 form that Ensemble Well being Companions filed with the Securities and Alternate Fee on Tuesday.
4. Since 2019, Ensemble Well being Companions—which had been acquired by Bon Secours Mercy Well being in 2016—has been owned by private-equity agency Golden Gate Capital. Cincinnati-based Bon Secours Mercy Well being in 2019 offered a 51% fairness stake in Ensemble Well being Companions to Golden Gate Capital however remained a minority proprietor and a buyer of the corporate.
Golden Gate Capital and Bon Secours Mercy Well being will proceed to have “vital affect” over Ensemble Well being Companions, in response to the S-1 submitting, “together with management over selections that require the approval of stockholders,” as the 2 corporations will account for almost all of the corporate’s voting energy.
5. Sixteen digital well being corporations went public within the first three quarters of the 12 months, in response to information compiled by Digital Health Business & Technology. Of the 4 corporations that went public in 2021’s third quarter, two accomplished IPOs, whereas the opposite two went public by mergers with special-purpose acquisition corporations.
