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Health insurance marketplace GoHealth sets terms for $751 million IPO

July 8, 2020

GoHealth, a medicare-focused health insurance marketplace, announced terms for its IPO on Wednesday.

The Chicago, IL-based company plans to raise $751 million by offering 39.5 million shares at a price range of $18 to $20. At the midpoint of the proposed range, GoHealth would command a fully diluted market value of $6.0 billion. 

Over the last four years, GoHealth has shifted its focus towards Medicare products over individual and family health insurance products. In 2019, the company generated over 42.2 million consumer interactions and over 4 million consumer leads.

GoHealth was founded in 2001 and booked $611 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol GOCO. Goldman Sachs, BofA Securities, Morgan Stanley, Barclays, Credit Suisse, Evercore ISI, RBC Capital Markets, and William Blair are the joint bookrunners on the deal. It is expected to price on Tuesday, July 14, 2020.