Well being in Tech (HIT) expects to boost $10 million in an IPO on the week of November 4th, IPO Scoop reviews. The corporate will concern 2,300,000 shares at a value of $4.00-$5.00 per share.
Within the final yr, Well being in Tech generated $20.6 million in income and $1.8 million in web revenue. The corporate has a market cap of $243.3 million.
American Belief Funding Providers served because the underwriter for the IPO.
Well being in Tech offered the next description of their firm for its IPO: “(Included in Nevada) Our Mission To alter the non-transparent $4.5 trillion healthcare trade with innovation that removes friction and complexities with vertical integration, course of simplification, automation, and digitalization. Overview Well being in Tech (“HIT”) is an insurance coverage expertise platform firm, which provides a market that goals to enhance processes within the healthcare trade by way of vertical integration, course of simplification, and automation. By eradicating friction and complexities, we streamline the underwriting, gross sales and repair course of for insurance coverage corporations, licensed brokers, and TPAs. Market:    We’re a medical insurance market the place insurance coverage corporations can checklist numerous stop-loss coverage choices for self-funded advantages plans. Licensed brokers registered on our platform can log in, add sure required data, choose coverage plans, get hold of a bindable quote and promote them to small companies. Our expertise permits us to medically underwrite insurance coverage insurance policies and often produce bindable quotes inside roughly two minutes, permitting us to ship an built-in and seamless gross sales cycle. Customizable Options:    Past coverage underwriting and gross sales, our market provides customization of well being advantages plans, distributors, claims, and community providers. Brokers can choose custom-made plans that go well with their clients. Accessibility and Financial savings:    We make self-funded advantages plans and cease loss insurance coverage accessible on-line for small companies. We goal to ship significant value financial savings for low-risk, small employers with comparatively wholesome workers by way of a digital medical underwriting course of. We search to ship time financial savings for employers, brokers, TPAs, and carriers, by leveraging each exterior and internally developed expertise. HIT was based on the idea that self-funded advantages plans and cease loss insurance coverage ought to be easy and streamlined with important transparency. With over 30 years of trade expertise of our administration group, we perceive the complexities of the healthcare insurance coverage market, and we all know how one can combine the multifaceted facets of the trade. Our options and expertise platforms do precisely this by way of vertical integration, course of simplification, automation, and digitalization. Service Options We provide a set of service options designed to satisfy the various wants of our purchasers. Out there for seamless integration or as standalone choices, our providers are delivered by way of the three wholly-owned subsidiaries working on a single on-line market: (i) Stone Mountain Danger, LLC (“SMR”), (ii) Worldwide Captive Alternate, LLC (“ICE”), and (iii) HI Card LLC which provides the HI (Well being Intelligence) Card platform (“HI Card”). Collectively, these providers embody the great worth proposition of HIT. For the yr ended December 31, 2023, the share of our whole income attributed to every of SMR, ICE and HI Card was 42.2%, 43%, and 14.8%, respectively. Program providers offered by SMR and underwriting and administrative actions offered by ICE (together with eDIYBS) are interdependent, as they can not operate successfully with out being mixed. Providers offered by HI Card are non-obligatory add-on to our providers, and it can’t be supplied on a standalone foundation. Any dealer that utilized program providers supplied by SMR and ICE is just not obligated to make the most of the HI Card service. Notice: Internet revenue and income are for the 12 months that ended June 30, 2024. (Notice: Well being in Tech filed its S-1 on Aug. 30, 2024, and disclosed the phrases for its small-cap IPO: The corporate is providing 2.3 million shares at a value vary of $4.00 to $5.00 to boost $10.35 million. Background: Well being in Tech submitted confidential IPO paperwork to the SEC in April 2024.) “.
Well being in Tech was based in 2014 and has 82 workers. The corporate is situated at 701 S. Colorado Ave, Suite 1 Stuart, FL 34994 and might be reached by way of cellphone at (888)-373-0333 or on the net at http://www.healthintech.com/.
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