Inovalon Holdings Inc., a healthcare data analytics vendor, has registered with the Securities and Exchange Commission to conduct an initial public offering of stock valued up to $500 million.

Bowie, Md.-based Inovalon has nearly 100 clients “providing services to approximately 200 patient populations through hundreds of separate statements of work,” according to the company’s S-1 registration form to the SEC. The 16-year-old company has had annual revenue well over $200 million during the past five years. It also is quite profitable, with nearly $51.9 million in net income during the first nine months of 2014.

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