GoodRx Inc., the Santa Monica, California-based prescription drug worth comparability firm, plans to go public.
Reuters reported the web firm has filed for a possible preliminary public providing (IPO) with the U.S. Securities and Alternate Fee (SEC).
Simply two years in the past, the startup was valued at $2.eight billion when Silver Lake, the Menlo Park, California expertise non-public fairness agency, invested in it. The corporate is hiring advisers for the IPO, sources advised the information service.
If profitable, the itemizing may come later this 12 months or early in 2021, one of many sources mentioned.
Based by Doug Hirsch and Trevor Bezdek in 2011, GoodRx gathers drug costs on greater than 70,000 U.S. pharmacies for consumers to match and observe drug costs, in keeping with its web site. As well as, it affords low cost coupons to shoppers. It makes cash by charging charges to pharmacy advantages managers who accomplice with it.
Each month, the corporate’s web site is considered by greater than 10 million People who search the bottom costs for pharmaceuticals, in keeping with GoodRx.
Final fall, the corporate expanded into healthcare providers with the acquisition of HeyDoctor, the telemedicine firm, for an undisclosed worth. With the acquisition, GoodRx renamed the telemedicine service as GoodRx Care.
Beginning at $20, the service gives sufferers with a web based medical go to from a board-certified medical skilled to get remedy, prescriptions and lab checks for routine medical points, the corporate mentioned.
Earlier this 12 months, PYMNTS reported ePharmacy corporations had been taking purpose at excessive drug costs. Along with GoodRx, corporations together with Blink Health and Ro and have labored to cut back costs.
A survey by the Kaiser Family Foundation discovered that amongst these taking pharmaceuticals, 24 % mentioned they will’t afford their prescriptions. Three in 10, or 29 %, reported not taking their medicines as prescribed up to now 12 months due to the associated fee — and one in 10, or eight %, mentioned their situation worsened consequently.
Blink Well being CEO Geoffrey Chaiken mentioned the ePharmacy mannequin must succeed the place the federal government can’t.
“At Blink, we’re not going to attend for the federal government to resolve this downside,” he mentioned.
Ro, below its Roman Digital Well being Clinic for males, launched a well being website known as Well being Information. The corporate mentioned the brand new service is designed to compete with the likes of WebMD and Google searches.
“We created Well being Information to satisfy certainly one of Roman’s guiding rules: to fulfill sufferers at eye stage,” the Roman Health Guide team wrote on its welcome announcement.