Chen Shaoxiong applied for an IPO for his digital health company

NantHealth, a digital health subsidiary of Forbes, the world's richest doctor, has recently submitted an IPO application seeking $92 million in financing. Previously, electronic medical platform service provider NantHealth had received more than $680 million in investments including Allscripts, Blackberry and Kuwaiti government.

Chen Shaoxiong applied for an IPO for his digital health company

Chen Shaoxiong has been preparing for NantHealth's IPO for some time. He announced the IPO plan as early as the end of 2015, but there is no news. Regarding the reason for the delay, he said in an interview with the Los Angeles Times: "We are basically ready to go public, but in the bear market, we do not want an IPO and postponed the listing plan."

According to the IPO S-1 file submitted by NantHealth, NantHealth is losing money every year. In December last year, net income was $58.3 million and net loss reached $72 million. Although the amount of the loss is shrinking, the company has not promised long-term profitability in the document. However, the S-1 document provides a more comprehensive and convincing product description and customer base than ever before.

NantHealth said in the S-1 document: "Through a decade of hard work, we have developed an adaptive learning system - CLINICS. It includes our unique software, intermediate devices, hardware systems and other basic equipment. He can help us collect, Indexing, analyzing, and presenting recent and previous data, all about molecular, clinical, operational, and financial, which helps us continuously improve decision making, optimize clinical protocols, and decision algorithms. As big data and enhanced intelligence Pioneer in the field, we believe that we will profit from huge diversified market opportunities. This is because healthcare providers and demanders are shifting from service payment to value payment, and will promote the pursuit of precursor-based clinical practice. ."

But what is not mentioned in the S-1 document is that last year, two former employees sued NantHealth for engaging in improper activities, including violations of HIPAA and FDA regulations. The case was later revoked because the relevant legal issues involved were Florida's local regulations, not federal laws.

NantHealth integrates a variety of technology products into the CLINICS platform. According to NantHealth, customers include more than 2,000 hospitals or health systems from around the world, more than 70 health plans, and more than 100 million patients on the platform.

For more information about NantHealth, Artery will bring detailed case analysis to you later.

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