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A Couple of HIT Companies File for IPOs

February 5, 2014
by Gabriel Perna
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Castlight Health, a San Francisco-based provider of an application that allows consumers of healthcare to compare doctors, hospitals and medical procedures based on price and quality, has reportedly filed for an initial public offering (IPO) with a valuation of up to $2 billion to the Securities and Exchange Commission (SEC), CNN/Fortune and other media outlets are reporting.

Castlight was founded in 2008 by Todd Park, the chief technology officer of the U.S. and former CTO of the Department of Health and Human Services (HHS), and co-founder of EHR vendor, athenahealt. Over the past few years, Castlight received several rounds of venture capital; in 2012, it raised $100 million.

Castlight was named by noted healthcare economist Uwe Reinhardt, Ph.D. as one of the companies that is changing the way consumers interact with healthcare organizations in regards to pricing. It was named as one of the top VC funded companies by The Wall Street Journal in 2011.

Also going public is the Lexington, Mass.-based Imprivata, which announced that it confidentially submitted a draft registration statement with the SEC to go public. Imprivata offers healthcare organizations, such as Riverside Medical Center in Kankakee, Ill.,  dual-factor authentication, single-sign on technology.

According to CNN/Fortune, Imprivata generated around $50 million in revenue through the first three quarters of 2013. The last VC funding it raised was in 2008, worth about $100 million.

Read the source article at Fortune Finance



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