GoHealth, a Chicago Medicare-focused health insurance marketplace, is going public.
The company filed on Friday with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering. It first filed confidentially on May 8, and plans to list on the Nasdaq under the symbol GHTH. The company didn’t list a specific share price or the number of shares it’s selling in its SEC filing.
Founded in 2001, GoHealth connects consumers and businesses with health plans using its tech-based, data science platform. Over the last four years, the company says it has shifted toward offering Medicare plans specifically.
GoHealth has helped enroll more than 5 million Americans in health insurance plans, and has partnered with major health insurance carriers, such as Cigna, Anthem and Humana.
In the filing, the company reported 2019 net revenues of $540 million and saw a 139% growth in revenues from 2018 to 2019. For the fiscal year ended March 31, 2020, GoHealth reported $611 million in net revenue.
GoHealth has raised more than $75 million in funding, according to Crunchbase. Its investors include Norwest Equity Partners and Nimble Ventures. And last year, private equity firm Centerbridge Partners made a “significant investment” in Chicago-based GoHealth, with reports saying the deal was worth about $1.5 billion.
In 2016, GoHealth acquired Vermont-based human resources platform Connected Benefits for undisclosed amount.
GoHealth, one of Inno’s 2019 50 on Fire winners, was founded by former college roommates Brandon Cruz and Clint Jones, who both still lead the company as co-CEOs.
GoHealth is the latest Chicago tech company to go public. Last year, social media management startup Sprout Social raised $150 million in an initial public offering.
