Change Healthcare, which provides healthcare revenue cycle management software and services, announced terms for its IPO and equity offering on 6/14/19. The company will raise up to $900 million+ with its planned IPO and an additional $287 million in equity units. Change plans to trade on NASDAQ under the symbol “CHNG.”
Change is an independent healthcare technology platform that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. They offer a suite of software, analytics, technology-enabled services and network solutions that drive improved results in the complex workflows of healthcare system payers and providers. In its filing the company the company says that for the fiscal year ended March 31, 2018, it facilitated nearly 14 billion healthcare transactions and approximately $1 trillion in adjudicated claims or approximately one-third of all U.S. healthcare expenditures.
In 2017, Change and McKesson announced that they had completed the creation of a new healthcare information technology company. The new company, named Change Healthcare, and combined substantially all of CHC’s business and the majority of McKesson Technology Solutions (MTS).
In February of this year, Change announced that it would provide free clinical data interoperability services for the healthcare industry. The foundational, infrastructure services, including: record locator service, identity management, and document retrieval solution with protection of patient privacy, support a comprehensive range of use cases. Ultimately, the interoperability services are intended to empower providers and patients with timely access to their data.