Private equity-backed healthcare platform Alignment files for IPO

03/03/2021 | 04:21pm

March 3 (Reuters) - Alignment Healthcare Inc, a healthcare platform backed by private equity firms Warburg Pincus and General Atlantic, revealed a jump in revenue in its filing for an initial public offering on Wednesday.

The company said its revenue jumped 27% to $955.4 million for the year ended Dec. 31, 2020. (https://bit.ly/309FaDT)

Alignment, founded in 2013, is focused on providing private insurance coverage to senior patients enrolled in Medicare Advantage plans.

The company said its net loss narrowed to $22.9 million in 2020, from $44.7 million a year earlier.

Goldman Sachs, Morgan Stanley, JP Morgan, BofA Securities and William Blair are the lead underwriters for the offering. (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli and Shounak Dasgupta)

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