GoodRx Holdings Plans $900 Million IPO for September 23rd (GDRX)

GoodRx Holdings (GDRX) expects to raise $900 million in an initial public offering on Wednesday, September 23rd, IPO Scoop reports. The company plans to issue 34,600,000 shares at $24.00-$28.00 per share.

In the last year, GoodRx Holdings generated $627.7 million in revenue and $89.5 million in net income. GoodRx Holdings has a market cap of $1,000 million.

Morgan Stanley, Goldman Sachs, J.P. Morgan and Barclays acted as the underwriters for the IPO and BofA Securities, Citigroup, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Cowen, Deutsche Bank Securities, Evercore ISI, Citizens Capital Markets, KKR, LionTree, Raymond James, SVB Leerink, Academy Securities, Loop Capital Markets, R. Seelaus and Ramirez were co-managers.

GoodRx Holdings provided the following description of their company for its IPO: ”  Our mission is to help Americans get the healthcare they need at a price they can afford. To achieve this, we are building the leading, consumer-focused digital healthcare platform in the United States. GoodRx was founded to solve the challenges that consumers face in understanding, accessing, and affording healthcare. We started with a price comparison tool for prescriptions, offering consumers free access to lower prices on their medication. We wanted to help ensure that no parent had to choose between their child’s next meal and their life-saving medication. Today, we believe our expanded platform improves the health and financial well-being of American families by providing easy access to price transparency and affordability solutions for generic and brand medications, affordable and convenient medical provider consultations via telehealth and additional healthcare services and information. Based on our research, from inception through June 30, 2020, we estimate that approximately 18 million of our consumers could not have afforded to fill their prescriptions without the savings provided by GoodRx. Furthermore, a July 2020 survey we commissioned from Lab42 Research LLC found that 68% of healthcare providers surveyed have recommended GoodRx to patients. In addition to reducing the costs of healthcare for consumers, we believe that our offerings can help drive greater medication adherence, faster treatment and better patient outcomes. These all contribute to a healthier, happier society. “.

GoodRx Holdings was founded in 2015 and has 388 employees. The company is located at 233 Wilshire Blvd., Suite 990, Santa Monica, CA 90401, US and can be reached via phone at (855) 268-2822 or on the web at http://www.goodrx.com.

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