Home health company launches $1B IPO

Louisville, Ky.-based BrightSpring Health Services, a home and community-based health services provider, on Jan. 2 filed for an initial public offering, listing several of Wall Street's biggest banks in its plans, according to Bloomerg

Four things to know:

1. BrightSpring, which is backed by private equity firm KKR & Co., aims to raise $1 billion in the IPO, according to the report. More details on terms of the offering are expected to be unveiled in the company's next filing with the Securities and Exchange Commission.

2. The company reported a $150 million net loss on revenue of $6.45 billion for the nine months ended Sept. 30, according to Bloomberg. After the IPO, BrightSpring will be controlled by KKR and an affiliate of Walgreens Boots Alliance.

3. BrightSpring plans for its shares to trade on the Nasdaq Global Select Market under the symbol BTSG.

4. Waystar, a payment technology provider, is another healthcare company that aims to go public in 2024. Waystar, owned by investment firm EQT Partners, Canada Plan Investment Board and Bain Capital, could hit a $8 billion valuation with its IPO. The company was valued at $2.7 billion in 2019. 

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