Vibrant Well being raised $924 million on a valuation of roughly $12 billion throughout its preliminary public providing on Thursday, with the Minneapolis-based insurtech reserving the most important IPO among the many medical health insurance startups that went public this yr.
The corporate’s shares failed to achieve their estimated value of $18 in the course of the IPO, that means its valuation fell about $2 billion wanting what buyers anticipated. Vibrant Well being is the final of the insurtechs anticipated to make an IPO this yr, with Alignment Healthcare, Oscar Well being and Clover Well being all going public earlier in 2021.
Vibrant Well being is the most important of those new-age insurance coverage corporations and its valuation displays the dimensions of its membership, stated Blake Madden, a healthcare analyst at VMG Well being. “Regardless of the perhaps somewhat little bit of combined critiques on the IPO, I believe it