BrightSpring Health Services, which provides home and community-based healthcare services, raised $693 million by offering 53.3 million shares at $13, below the range of $15 to $18. Concurrent with the IPO, the company raised an additional $400 million by offering 8 million tangible equity units at $50 per unit.
BrightSpring Health is a home and community-based healthcare services platform, focused on delivering complementary provider and pharmacy services to complex patients. The company has a differentiated approach to care delivery, with a purpose-built and scaled model that addresses critical services that the highest-need and highest-cost patients require, focusing on Senior and Specialty patients, which includes Behavioral populations. BrightSpring has a presence in all 50 states, serving over 400,000 patients daily through its approximately 10,000 clinical providers and pharmacists.
BrightSpring Health Services plans to list on the Nasdaq under the symbol BTSG. Goldman Sachs, KKR, Jefferies, Morgan Stanley, UBS Investment Bank, BofA Securities, Guggenheim Securities, and Leerink Partners acted as joint bookrunners on the deal.
