Livongo Health, a company focused on aiding those with chronic conditions, filed for a $100 million IPO on 6/28/19. The initial filing does not specify the number of shares to be offered. The company intends to trade on NASDAQ under the symbol, “LVGO.”
The company's prospectus states that in 2014, 147 million Americans were living with chronic conditions. More than 40% of those had two or more chronic conditions. In spite of how common it is for patients to have to deal with chronic conditions, the healthcare system is not designed to provide adequate care to such patients.
For example, people with diabetes are asked to frequently check their blood sugar. However they often do not have any context for interpreting the data. They may have little guidance or counseling or oversight into how they are doing. Livongo Members receive a smart, cellular-connected meter, automatically-delivered testing materials, real-time coaching, and monitoring 24 hours a day, seven days a week, 365 days a year (24x7x365). When they track their blood glucose, they receive a highly personalized message about what to do that very moment.
Livongo's customers are employers, health plans, government entities, and labor unions. As of March 31, 2019, they had 679 clients and over 164,000 Livongo for Diabetes members.