Market Overview

Phreesia IPO: What You Need To Know

Phreesia IPO: What You Need To Know

A company that oozes the glamour of tech and draws upon the strong growth potential of the health care sector is set to test the IPO waters.

The IPO Terms

New York-based Phreesia (NYSE: PHR) has filed for a 7.8125-share public offering at an estimated price range of $15-$17, according to its amended S-1/A filing dated July 8.

At the mid-point of the price range, the size of the offering is $125 million.

The company is offering 7.8125 million shares, with the remaining 1.172 million shares offered by selling shareholders.

The shares of the company have been approved for listing on the NYSE under the ticker symbol PHR.

JPMorgan, Wells Fargo, William Blair, Allen & Company and Piper Jaffray are the underwriters for the offering.

See Also: A Halftime Report Of The IPO Market In 2019

The Company

Phreesia, founded in 2005, is a health care software company, which offers through its SaaS-based Phreesia Platform a suite of solutions to manage the patient intake process and an integrated payment solution for secure processing of patient patients.

Its platform also provides life science companies with an engagement channel for targeted and direct communication with patients.

The Finances

For the fiscal year ended Jan. 2019, the company reported revenues of $99.89 million compared to $79.83 million in 2018. Revenues for the three months ended April 30 were at $28.31 million.

The net loss for fiscal 2019 widened from $38.17 million to $45.26 million.

Phreesia said it facilitated more than 54 million patient visits to about 50,000 individual provides, including physicians, physician assistants and nurse practitioners in fiscal year 2019. Its platform also processed over $1.4 billion in patient payments in the year.

Photo courtesy of Phreesia.


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