First healthcare IPO: BrightSpring debuted at less than projected, but holding value

First out of the gate, but a slower break than expected. Home health, pharmacy, and eldercare services provider BrightSpring Health IPO’d on 26 January (the day after we wrote about it, grrr). BTSG has the distinction of being the first healthcare IPO in a year and the first in 2024 to go public. As noted on 25 January, the offering was initially pegged at $15 to $18 per share on the Nasdaq Capital Markets, then later cut back to $13 which would have meant a raise of $633 million. Instead, it opened at $12 for a lower raise and fell fairly quickly to $11, near which it has stayed since then. From the looks of it, investors don’t trust healthcare companies, even in home health, pharmacy, and eldercare services and not technology, after the spectacular bust of over 90% of the companies that IPOd and SPACd from 2020 into 2022. Perhaps we should be content that at least it has not plunged as others did!  FastCompany

Categories: Latest News.

Leave a Reply

Your email address will not be published. Required fields are marked *