Healthcare one key to a rich IPO. Box’s healthcare moves point in the enterprise direction. Early last year, Box was certified as both HIPAA and HITECH-compliant for storing and sharing medical records. This enabled them to develop partnerships in care coordination, clinical documentation, interoperability and other areas (ZDNet 25 Apr 13), later picking up health system and related enterprise users by the bunch. Effective tomorrow (21 March), they are moving into the PHR business by providing the file sharing platform (starting tomorrow) for EHR CareCloud, which claims 7 million patients covered. Patients can now download their records to their own Box account and store/share them as needed. The Eye agrees with Neil Versel that this is quite less than it seems–only a fraction of CareCloud’s 7 million patients will ever set up a PHR. They’ve gained little user traction (except in the courts, where not-a-patent troll MMRGlobal keeps companies and countries busy). It remains to be seen if Meaningful Use (MU) Stage 2 might give this a push, and the ease of Box might be appealing, but the IPO will come much sooner than PHR takeup. It does look good, though. Box release. ZDNet.
Update–Speaking of that IPO…Box filed initial papers (the S-1) with the Securities & Exchange Commission (SEC) on 24 March and intends to trade on the New York Stock Exchange, not the techie NASDAQ. The public announcement (tweeted, of course) indicates that they intend to be valued over $1 billion, as under that amount the filing can be confidential under the JOBS Act. Morgan Stanley, Credit Suisse, and JPMorgan Chase head the IPO with intents to raise $250 million. ZDNet