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Privia Health Group which provides a value-based care platform for physicians accessed in the cloud, priced its IPO at $23 at the high end of the upwardly revised range April 29, 2021. The company will trade under $PRVA provides a raised $449 million At pricing, Privia commands a fully diluted market value of $2.8 billion.

Privia Health

 

IPO Highlights

Privia Health Group raised $449 million by offering 19.5 million shares (86% insider) at $23, the high end of the upwardly revised range of $21 to $23. The company originally filed to offer the same number of shares at $17 to $19, before increasing its range yesterday. At pricing, Privia commands a fully diluted market value of $2.8 billion. The gross proceeds of the offering to Privia Health, before deducting underwriting discounts and commissions and other expenses payable by Privia Health, are expected to be approximately $64.4 million

Privia Health Group plans to list on the Nasdaq under the symbol PRVA. Goldman Sachs, J.P. Morgan, Credit Suisse, Piper Sandler and William Blair acted as lead managers on the deal.

About Privia Health

Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Their platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers.

Source: Privia Health

From The TradersCommunity Research Desk

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