What to know about the Bright Health IPO:

  • Minneapolis-based healthcare and medtech company (and funding juggernaut) Bright Health has filed paperwork with the SEC to go public
    • The company will offer stock under the ticker “BHG”
  • The move holds true to an April Bloomberg report that expected an IPO for the company in late Q2 with underwriters targeting a valuation as high as $20 billion
  • Details of the IPO, including size and timing, were not disclosed
  • Lead managers for the offering include JPMorgan Chase & Co., Goldman Sachs & Co., Barclays Plc., and Morgan Stanley with Nomura Holdings and RBC Capital Markets serving as co-managers
  • Reports indicate the company hit a revenue of $1.21 billion in 2020 with a net loss of $248.4 million
  • An extra bit of news in the filing is a potential new HQ for the company — a five-building campus in the Bloomington Normandale Lake Office Park

Be sure to read up on our previous Bright Health coverage and stay tuned for more IPO news.