NantHealth, which has developed genomic and protein-based molecular testing services—starting with cancer care—on a personalized medicine platform, has filed SEC registration papers to conduct an initial public offering of stock valued at up to $92 million.NantHealth, which has developed genomic and protein-based molecular testing services—starting with cancer care—on a personalized medicine platform, has filed SEC registration papers to conduct an initial public offering of stock valued at up to $92 million.

The company has requested NH as its ticker symbol on the NASDAQ stock exchange. Backed by billionaire investor Patrick Soon-Shiong, M.D., NantHealth has been in development for several years, but took major steps in 2015 and early 2016 toward deploying its platform.

In 2015, ambulatory and hospital software vendor Allscripts aligned with NantHealth via a $200 million investment which netted a 10 percent equity stake, and NantHealth invested $100 million in Allscripts. NantHealth last year acquired the commercial Healthcare Solutions Unit of Harris Corporation, getting its Fusion interoperability and health information exchange platform, provider and patient portals, and referral management and secure messaging software that became part of the platform.

NantHealth, which also offers the Eviti oncology decision support software on the platform, expanded further in January by acquiring NaviNet, a major vendor of financial and clinical transactions processing services, for an undisclosed price. NaviNet moves about 30 million transactions a month, and brings access to insurance companies covering more than 100 million lives, as well as access to 170,000 provider offices.

Also See: NantHealth buy of NaviNet accelerates move to personalized medicine

The company plans to expand beyond oncology to facilitate genomic sequencing and determination of diagnoses for other diseases. “As a pioneer in the era of big data and augmented intelligence, we believe we are uniquely positioned to benefit from multiple significant market opportunities as healthcare providers and payers transition from fee-for-service to value-based reimbursement models and accelerate their pursuit of evidence-based clinical practice,” the company notes in its SEC filing.

Jeffries and Cowen and Company are the major investment managers of the IPO. NantHealth in 2015 had revenue of $58.3 million and a net loss of $72 million.

The company has requested NH as its ticker symbol on the NASDAQ stock exchange. Backed by billionaire investor Patrick Soon-Shiong, M.D., NantHealth has been in development for several years, but took major steps in 2015 and early 2016 toward deploying its platform.
In 2015, ambulatory and hospital software vendor Allscripts aligned with NantHealth via a $200 million investment which netted a 10 percent equity stake, and NantHealth invested $100 million in Allscripts.

NantHealth last year acquired the commercial Healthcare Solutions Unit of Harris Corporation, getting its Fusion interoperability and health information exchange platform, provider and patient portals, and referral management and secure messaging software that became part of the platform.

NantHealth, which also offers the Eviti oncology decision support software on the platform, expanded further in January by acquiring NaviNet, a major vendor of financial and clinical transactions processing services, for an undisclosed price. NaviNet moves about 30 million transactions a month, and brings access to insurance companies covering more than 100 million lives, as well as access to 170,000 provider offices.

Also See: NantHealth buy of NaviNet accelerates move to personalized medicine

The company plans to expand beyond oncology to facilitate genomic sequencing and determination of diagnoses for other diseases. “As a pioneer in the era of big data and augmented intelligence, we believe we are uniquely positioned to benefit from multiple significant market opportunities as healthcare providers and payers transition from fee-for-service to value-based reimbursement models and accelerate their pursuit of evidence-based clinical practice,” the company notes in its SEC filing.

Jeffries and Cowen and Company are the major investment managers of the IPO. NantHealth in 2015 had revenue of $58.3 million and a net loss of $72 million.

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