Doximity, a professional network for physicians with telehealth and scheduling tools, raised $606 million by offering 23.3 million shares (18% secondary) at $26, above the range of $20 to $23.
Doximity is an online platform for physicians that allows them to collaborate with colleagues, securely coordinate patient care, conduct virtual patients visits, read the latest medical news and research, and manage their careers. The company claims that it is the leading digital platform for US medical professionals, with over 1.8 million members as of March 31, 2021, representing more than 80% of physicians across the country.
Doximity plans to list on the NYSE under the symbol DOCS. Morgan Stanley, Goldman Sachs, J.P. Morgan, Piper Sandler, and William Blair acted as joint bookrunners on the deal.
