Although VC investments in Healthcare Software have been increasing, liquidity events remained fairly stable over the past 5 years according to CB Insights with roughly 12 deals a quarter on average. Out of these deals, 8 were marked as IPOs on CB Insights chart.
This is a bit misleading, however. Interestingly in looking at the data further, 2 of these deals actually represent companies going private – which is pretty much the opposite of an IPO. Furthermore, one of the companies that went private, Imprivata, is also counted as an IPO earlier during this period.
Nevertheless, although there was no IPO activity during the first 2 years of the last 5 year period, it has picked up to 3 IPOs this past year. These numbers are small, but still encouraging for startups and entrepreneurs in the space. These also typically represent some of the more interesting ideas and technologies that are worth exploring. As such, here we will look at what these liquidity events were in a bit more detail and learn a bit more about the companies involved.
So who were the 6 companies that had an IPO in the last 5 years and which 2 companies decided to go private? Here is the list:
|Company||Quarter||Event||$ Raised Pre-IPO||Time to IPO||Link to Company|
|Imprivata||2014 Q2||IPO||$28M||8 years||imprivata.com|
|Evolent Health||2015 Q2||IPO||$128M||4 years||evolenthealth.com|
|NantHealth||2016 Q2||IPO||$696M||3 years||nanthealth.com|
|Medical System||2016 Q4||IPO||$10M||10 years||medicalsystem.cn|
|Alternate Health Corp||2017 Q1||IPO||n/a||n/a||alternatehealth.ca|
|Accreon||2015 Q1||Went private||accreon.com|
|Imprivata||2016 Q3||Went private||imprivata.com|